Elon Musk On Tesla, Uber And The Ridesharing Game

Tesla Motors Inc TSLA, and especially CEO Elon Musk, have been talking about a ridesharing service operated by self-driving electric vehicles for quite some time now.

Last week, the company presented new hardware that is able to support fully autonomous driving. However, self-driving vehicle sharing in Teslas “will only be permissible on the Tesla Network." Further details will be released in 2017.

"This would be something that would be a significant offset on the cost of ownership of a car and then a revenue generator for Tesla as well," Musk argued, explaining that, this way, owners could make money when they weren’t using the car.

"Obviously, the majority of the economics would go to the owner of the car. Sometimes, it's been characterized as Tesla versus Uber or Lyft or something like that. It's not Tesla versus Uber; it's the people versus Uber,” he concluded.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CNBCTechMediaElon MuskLyftUber
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!