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· Posted on
April 12, 2024

Tesla announces plans for a big-bet robotaxi... just when everyone was expecting a cheaper EV

Elon Musk announces plans to build a futuristic, self-driving robotaxis.

What's the key learning?

  • Tesla has discounted the price of its cars 4 times in the past year it’s still not considered an ‘accessible’ price
  • Plans were made to build lower cost EV's at around the $25,000 USD mark
  • That idea has disappeared as quickly as choccy eggs after easter x because Elon Musk has reportedly scrapped the idea

👉 Background: Tesla became one of the sexiest companies in the world when it released its first electric vehicle, the Roadster, in 2008,  with a cost of over $100,000 USD.

👉 What happened: More recently, Tesla’s saw its first revenue decline since the pandemic. And just when everyone thought the best solution to increasing revenue was a cheaper EV, Elon Musk announces plans to build a futuristic, self-driving robotaxis.

👉 What else: The robotaxi will effectively be a car without controls for a human to use, and Musky promised an unveiling on August 8th this year.

What's the key learning?

💡Sometimes your greatest strength can also become your biggest vulnerability.

💡Elon Musk is known for constantly chasing risky innovation - but this can be a double-edged sword especially when there is significant competition in the EV space. Chinese EV-maker BYD actually overtook Tesla by selling over 3 million lower-cost EV's last year.

💡While you can’t rule out Elon Musk and his zany ways, this Robotaxi may just be one step too far to fix his revenue decline.

‍

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All information contained in the Flux app, www.flux.finance, www.joinflux.com, app.flux.finance and any podcast of Flux Media Pty Ltd (ABN 27 639 804 345) is for education and entertainment purposes only. It is not intended as a substitute for professional financial, legal or tax advice. Flux Media Pty Ltd is the owner of the registered trade mark, 'What the Flux'. While we do our best to provide accurate information on the podcast, we accept no responsibility for any inaccuracies that may be communicated.
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