RBC analyst reduced Tesla stock target to $227, citing lowered expectations for Robotaxi business. Shifted focus to service providers like Uber/Lyft.
RBC Capital Market analysts foresee Robotaxis expanding the vehicle market, with varying ownership scenarios and potential for multiple software and fleet operators.
Tesla's revenue in Robotaxi scenario could vary from 100% if owned to 10% if service provider app and non-Tesla vehicles are utilized, according to RBC's updated model.
Narayan predicts Robotaxis reaching mainstream use by 2040, involving various software providers, fleet operators, and OEMs in purpose-built vehicle manufacturing.
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