ARK Invest believes Tesla's Robotaxi initiative could represent a "multi-trillion dollar" opportunity, potentially overshadowing traditional rideshare giants like Uber and Lyft.
Musk indicated that 2024 could mark a turning point with the launch of the Tesla Robotaxi platform in California and Texas, utilizing existing Hardware 4 vehicles.
Tesla's ability to solve its Full Self-Driving challenges is critical for the Robotaxi launch, but ARK predicts significant financial benefits from the driverless rideshare model.
ARK estimates that Tesla's Robotaxi services could be priced at $0.30-0.40 per mile, which is significantly lower than current ride-hail options, enhancing market penetration.
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