Tesla analyst states ‘Robotaxi is not the answer now’

Tesla analyst Dan Ives from Wedbush Securities recently stated that the Tesla “Robotaxi is not the answer for now.” Ives believes that the Model 2 should be on Tesla’s blueprint. 

In a recent note, the Wedbush analyst explained why Tesla should prioritize the Model 2. Earlier this month, Reuters reported that Tesla was shelving its $25,000 electric vehicle (EV) but would still develop the self-driving Robotaxi.

Elon Musk refuted the claim and later announced the unveiling of the Tesla Robotaxi. The Tesla Robotaxi will be similar to the company’s $25,000 EV, except the former has no steering wheel. 

Musk didn’t share any more details about the Tesla Robotaxi event. However, during the event, he will likely clarify any uncertainties about Tesla’s next-generation vehicle. 

Wedbush believes that fully autonomous cars will get their time to shine around 20230, but more affordable electric vehicles are crucial for the future of the EV market right now. Many automakers have reported plateauing demand for EVs. Some customers argue that EV prices are still too high, and range anxiety is still a concern.

Speaking about Tesla’s Robotaxi unveiling event, Ives wrote: “Our view is while this is an exciting announcement around robotaxis, we do not expect full autonomy (no steering wheel models) until 2030 and believe it is crucial to deliver a Model 2 vehicle over the next 18 months along with robotaxis

“If robotaxis is viewed as the ‘magic model’ to replace Model 2 we would view this as a debacle, negative for the Tesla story.” 

During Tesla’s Q4 and Full Year 2024 earnings call, Elon Musk estimated that the company would start producing its next-generation vehicle by the second half of 2025. Giga Texas will be the first Tesla factory to produce the next-gen EV. 

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