Latest news with #selfdrivingtaxis
The Independent
5 days ago
- Automotive
- The Independent
Elon Musk admits ‘rough' times ahead for Tesla as company focuses less on selling cars, more on robo-taxis
The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US Email * SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our Privacy notice Tesla shares fell on Thursday after CEO Elon Musk said the company could face a 'few rough quarters' as it transitions to a future focused less on selling cars and more on offering self-driving taxis. Many prospective buyers have been turned off by Musk's foray into right-wing politics, and the competition has ramped up in key markets such as Europe and China. Revenue dropped by 12 per cent and profit fell by 16 per cent as the electric vehicle maker reported another quarter of lackluster financial results. Revenues and profits have both fallen at Tesla ( AP ) Tesla faces the loss of the $7,500 EV tax credit and stands to make much less money from selling regulatory credits to other automakers after recent changes to federal tax law. President Donald Trump's tariffs on countries including China and Mexico will also cost Tesla hundreds of millions of dollars, the company said on its earnings call. Musk spent the call talking less about car sales and more about robo-taxis, automated driving software and robotics, which he says is the future of the company. But he acknowledged those businesses are a ways off from contributing to Tesla's bottom line. Tesla began a rollout in June of its paid robo-taxi service in Austin, Texas, and hopes to introduce the driverless cabs in several other cities soon. Musk told analysts that the service will be available to probably 'half of the population of the U.S. by the end of the year – that's at least our goal, subject to regulatory approvals.' 'We're in this weird transition period where we'll lose a lot of incentives in the U.S.,' Musk said, adding that Tesla 'probably could have a few rough quarters' ahead. He added, though, 'Once you get to autonomy at scale in the second half of next year, certainly by the end of next year, I would be surprised if Tesla's economics are not very compelling.' In early trading Thursday, Tesla share were down 8 per cent to around $305.
The National
06-07-2025
- Automotive
- The National
Dubai's RTA and Pony.ai to trial autonomous taxis and plan 2026 commercial roll-out
Dubai's Roads and Transport Authority (RTA) has signed a preliminary agreement with a Chinese autonomous driving company, to start pilot trials of driverless vehicles in the emirate by the end of the year. The partnership aims to pave the way for the full commercial roll-out of autonomous taxis by 2026, in line with Dubai's goal to convert 25 per cent of all trips to self-driving transport modes by 2030. The agreement was signed on Sunday by Ahmed Hashim Bahrozyan, chief executive of RTA's public transport agency, and Ann Shi, vice president of in the presence of senior officials including RTA director general and chairman Mattar Al Tayer and chief financial officer Dr Leo Wang. Mr Al Tayer said the collaboration supports Dubai's broader vision to be a global leader in the field of autonomous mobility. "Operating autonomous taxis will enhance the quality of life for residents and visitors in Dubai, improve road safety, and offer greater convenience in daily mobility across the emirate," he said. "It also supports our first and last mile strategy, improving access to and from public transport." He added that "autonomous mobility has become a present reality", with global companies rapidly advancing technologies and software to support self-driving vehicles. which recently unveiled its seventh-generation autonomous vehicle platform developed with Toyota, Gac and BAIC, equips its vehicles with advanced artificial intelligence and a suite of sensors, including lidars, radars and cameras, to navigate varied weather and road conditions. Dr Wang said the partnership with Dubai reflects the company's global ambitions. "The collaboration with Dubai RTA exemplifies our commitment to deploying Level 4 autonomous technology in strategic global markets." Level 4 autonomy refers to vehicles that can operate without human input in pre-defined conditions or geographic areas. Abu Dhabi has also been testing self-driving taxis on Yas and Saadiyat Islands through partnerships with Bayanat and WeRide. In recent months, the UAE has accelerated its adoption of self-driving technologies across multiple sectors, including defence. A local company is developing an autonomous hybrid military vehicle aimed at competing with global leaders such as Tesla. In the aviation sector, Emirates Group's dnata is piloting autonomous ground service vehicles at airports. The RTA's latest agreement adds to a growing list of partnerships with global tech firms as Dubai positions itself as a leading hub for innovative, efficient and sustainable transport.
