In a recent discussion, Uber Technologies Inc. (NYSE:UBER) CEO Dara Khosrowshahi shared insights into the competitive landscape of the robotaxi market, highlighting Uber's strategic positioning amidst rivals like Alphabet's (NASDAQ:GOOGL) Waymo and Tesla Inc (NASDAQ:TSLA).
What Happened: Khosrowshahi, during a conversation with Financial Times editor Roula Khalaf, discussed Uber's current involvement in the robotaxi sector, noting its collaboration with Waymo. He mentioned that Uber already integrates robotaxis into its platform through this partnership.
Regarding Tesla's potential entry, Khosrowshahi indicated that Uber's relationship with Tesla would depend on the latter's future strategies. He emphasized that Uber's platform already hosts numerous Teslas, which are favored by drivers for their electric attributes.
"I don't think this is going to be a winner-take-all marketplace. We believe in the spirit of partnership. We'll see what Tesla does, and either we'll compete with them, or we'll work with them, or a combination thereof," Khosrowshahi said.
Why It Matters: Uber's proactive measures to enhance its electric vehicle fleet align with its goal to become a zero-emission platform by 2040. The company has significantly increased its electric vehicle count to over 182,000, showcasing its commitment to sustainability.
Meanwhile, Tesla's anticipated Cybercab service, which aims to offer a cost-effective autonomous ride-hailing solution, poses a potential challenge to Uber. However, industry experts like Gary Black have expressed skepticism about Tesla's ability to surpass Uber's extensive network.
Despite the looming threat from Tesla's forthcoming robotaxi launch, analysts remain optimistic about Uber's position in the autonomous vehicle ecosystem. With Tesla's event generating buzz around a $25,000 robotaxi, Uber's strategic alliances and electrification efforts may prove crucial in maintaining its competitive edge.
This comes at a time while Tesla analysts are awaiting for the launch of the Cybercab, Tesla's completely autonomous vehicle. However, it is expected that the start date of the production would be some time in 2026 or 2027.
On the day of Tesla's robotaxi event, Uber also showed spike in pre-market activity after Elon Musk announced the Cybercab.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
