Tesla will launch its own ride-hailing network to compete with Uber and Lyft

31 Oct 2018_campuscad

Tesla CEO Elon Musk reiterated the “Tesla Network” plan during 3^rd quarter earnings of 2018 which was first unveiled in 2016.

Elon Musk said Tesla is likely to start its own ride-hailing network with fully autonomous vehicles which will directly compete with Uber and Lyft.

It will start by the end of 2019 but the biggest obstacle is the federal approvals.

The biggest advantage for Tesla is its vehicles autonomy. Electric cars build by automaker from last 2 years are already equipped with the required sensors and hardware.

By the time Company have millions of cars on the roads which can be a part of Tesla network.

At present Tesla cars having options of Autopilot modes which can assist during driving like lane changing etc.

Elon Musk said, any Tesla owner can join the Tesla network and start earning. People are using car 5-10% time of the day and will increase the electric vehicle utility.

Electric automaker approach towards building the autonomous vehicle technology is different from General Motors and Google’s Waymo and others etc.

Company reportedly developing its own hardware chips which can 1000% powerful than existing chips to process the data with the help of radar and sensors and will not use LiDAR system.

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