Tesla Is Already Losing the Robotaxi Wars
Summary
TLDRThe video discusses the future of autonomous vehicle robo-taxis, comparing Tesla’s ambitious yet untested plans with the current market leaders, Cruise (owned by GM) and Waymo (owned by Alphabet). These companies already have operational robo-taxis in several U.S. cities and are expanding rapidly, while Tesla lags behind with no fully autonomous vehicles in testing. The video emphasizes that Cruise and Waymo are safer, proven, and more practical investment options compared to Tesla, which faces regulatory challenges and delayed progress in the robo-taxi industry.
Takeaways
- 🚕 Tesla is expected to announce an autonomous Robo taxi product on October 10th, but competitors are already ahead in the market.
- 🤖 Uber has partnerships with Cruise (a GM subsidiary) and Waymo (owned by Alphabet), both of which have operational autonomous vehicles today.
- 🌍 Waymo has the most autonomous miles driven and is operational in cities like Phoenix, San Francisco, Los Angeles, and Austin.
- 🛣️ Waymo's autonomous service covers a large area in Phoenix, including 315 square miles of the metro area, and is expanding in other major cities.
- 🚗 Cruise, owned by General Motors, is also operational with modified Chevy Bolt vehicles and is expanding to more cities like Phoenix, Dallas, and Houston.
- 🛠️ Tesla’s autonomous driving system (FSD) is only at Level 2, while competitors are deploying higher-level systems that don’t require drivers.
- 🚨 Cruise faced setbacks in San Francisco due to an incident in 2023, but it’s relaunching and testing safety measures in key cities.
- 📱 Both Waymo and Cruise have partnerships with Uber, allowing customers to book rides through the Uber app in cities where they operate.
- ⏳ Tesla has not begun testing fully autonomous driving systems in key states like California and Texas, which means they are years behind competitors.
- 💡 Investors might find better opportunities in General Motors (Cruise) and Alphabet (Waymo) compared to Tesla, as those companies are further along in the Robo taxi business.
Q & A
What is Tesla expected to announce on October 10th?
-Tesla is expected to announce a Robo-taxi product, which is an autonomous vehicle concept, on October 10th.
How are competitors like Cruise and Waymo ahead of Tesla in the Robo-taxi market?
-Cruise and Waymo are already deploying fully autonomous vehicles (Robo-taxis) in multiple cities in the U.S., while Tesla's autonomous driving technology is still in development and hasn't been tested in public markets at the same level.
What level of autonomous driving is Tesla currently working on?
-Tesla is attempting to move from a Level 2 autonomous driving system (which requires driver supervision) to a Level 5 system, which would be fully autonomous and capable of driving anywhere without human intervention.
Which companies are currently partnering with Uber for Robo-taxi services?
-Uber is partnering with both Cruise (owned by General Motors) and Waymo (owned by Alphabet) to provide autonomous vehicle services on their platform.
What cities are Waymo’s Robo-taxis currently operational in?
-Waymo's Robo-taxis are operational in Phoenix, San Francisco, Los Angeles, and Austin.
Why is Cruise considered a strong competitor in the Robo-taxi space?
-Cruise is owned by General Motors and is actively deploying autonomous vehicles in multiple cities. They have partnered with Uber, which expands their potential customer base significantly.
What challenges is Tesla facing in its Robo-taxi development?
-Tesla is not currently testing fully autonomous vehicles in key states like California and Texas, which are critical for deploying its Robo-taxi network. Tesla also faces regulatory hurdles and hasn't yet proven its 'vision-only' autonomous driving model.
What incident caused Cruise to temporarily pull its vehicles off the road?
-In October 2023, an incident in San Francisco led Cruise to temporarily halt its autonomous vehicle operations to reassess safety protocols and ensure compliance with regulations.
What is the regulatory status of Tesla's autonomous vehicle testing?
-Tesla is not testing fully autonomous vehicles (Level 3, 4, or 5) in key U.S. states like California or Texas, where other companies like Waymo and Cruise are actively testing and deploying their Robo-taxis.
Why might Waymo and Cruise be better investments than Tesla in the autonomous vehicle space?
-Waymo and Cruise are already operational, collecting data, and scaling their autonomous vehicle networks in major U.S. cities. Tesla, meanwhile, is years away from deploying a fully autonomous Robo-taxi service, making Waymo and Cruise less risky and more proven options.
Outlines
🚗 Tesla Faces Robo-Taxi Competition
Tesla is expected to announce a Robo-taxi product soon, but competitors like Cruz (owned by General Motors) and Whmo (owned by Alphabet) are already ahead, deploying autonomous vehicles today. These companies are scaling their Robo-taxi businesses across multiple U.S. cities, including Phoenix, Los Angeles, and Austin. While Tesla aims to jump from a level two to level five autonomous system, they are not actively testing these systems in areas where they plan to operate. The speaker, Travis, explains why Cruz and Whmo are more reliable bets in the autonomous vehicle space due to their proven records and real-world deployments.
🚖 Whmo and Cruz's Autonomous Operations
Whmo, owned by Alphabet, has the most autonomous miles driven and is operational in Phoenix, San Francisco, Los Angeles, and Austin. Their Robo-taxi service covers large areas such as 315 square miles in Phoenix. They offer a real product that customers can access through their app or Uber. Cruz, owned by General Motors, uses modified Chevy Bolts for their Robo-taxi service. They are operational in cities like Phoenix, Dallas, and Houston but faced setbacks in 2023. After reorganizing, they are back on the road and expanding through a partnership with Uber, allowing customers to book Cruz vehicles via the Uber app.
Mindmap
Keywords
💡Robo taxi
💡Autonomous vehicle
💡Level 5 autonomous system
💡Waymo
💡Cruise
💡Tesla
💡Uber
💡FSD (Full Self-Driving)
💡Partnership
💡Safety
Highlights
Tesla is expected to announce an autonomous Robo taxi product on October 10th, but competitors are already ahead in the market.
Uber has partnerships with autonomous vehicle companies like Cruise (owned by General Motors) and Waymo (owned by Alphabet).
Waymo has the most autonomous miles on the road and is currently operational in cities like Phoenix, San Francisco, Los Angeles, and Austin.
Cruise is deploying modified Chevy Bolts as Robo taxis and is operational in cities like Phoenix, Dallas, and Houston.
Waymo's Phoenix network covers 315 square miles, including the airport and major areas like Scottsdale and Chandler.
Both Cruise and Waymo are available through Uber, enhancing Uber's autonomous ride-sharing options.
Tesla is still in the early stages, working on a Level 2 vision-only system and is not yet testing fully autonomous vehicles on U.S. roads.
Waymo plans to release a custom Robo taxi vehicle, expected next year, that could further increase its market dominance.
Cruise's plans for a custom Robo taxi without a steering wheel are delayed due to regulatory issues, and it will continue using modified Chevy Bolts.
Cruise faced a setback in San Francisco in October 2023 but has resumed operations with improved safety measures and partnerships with first responders.
Tesla has not yet received permits for fully autonomous vehicle testing in key states like California and Texas.
Waymo and Cruise are currently the only companies with deployment permits for fully driverless operations in various U.S. cities.
Tesla's Full-Self Driving (FSD) system has been rebranded as 'Supervised FSD,' indicating the need for driver supervision, unlike the fully autonomous systems from competitors.
Investors are advised to consider General Motors (Cruise) and Alphabet (Waymo) as better options for autonomous vehicle investments over Tesla.
Both Cruise and Waymo are expected to have thousands of Robo taxis operational before Tesla is able to fully enter the market with autonomous vehicles.
Transcripts
Tesla is expected to announce some sort
of autonomous vehicle Robo taxi product
on the 10th of October but the reality
is the market is already moving forward
without Tesla Uber already has
Partnerships with Cruz a subsidiary of
General Motors and whmo a company that
is owned by alphabet both of these
companies are deploying autonomous
vehicles today or Robo taxies so no
driver and they're scaling these
business businesses across a number of
cities across the United States now of
course the vision for Tesla is very
different they are attempting to go from
a level two autonomous driving system
that is Vision only to basically a level
five autonomous system that can take you
essentially anywhere in the country or
around the world what Tesla is not doing
is testing any of those systems in the
states where they would be theoretically
operating so I want to go through what
we know today and why I think Cruz and
weo are actually the better bets in the
robo taxi business than Tesla because
they're actually on the road we have
data behind them and we're not talking
about a theoretical product we're
talking about something that's proven
and safe today my name's Travis ham
thanks for watching asymmetric investing
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10 stocks to buy right now so let's get
to who these two competitors are the
first that I want to highlight is wh
whmo is owned by alphabet they have the
most autonomous miles on the road of any
company today and they are currently
launching wh 1 this is their Robo taxi
product they're actually going to make a
custom vehicle that Zer is going to make
that should be out potentially next year
but they are operational in Phoenix San
Francisco Los Angeles and Austin if you
just look at their map in the Phoenix
area you can see that this covers a
tremendous amount of space 315 square
miles in Metro Phoenix so basically
everywhere you want to go from the
airport all the way up through Scottdale
and down to Chandler in Los Angeles
there's obviously a lot more space to
expand to but they're going all the way
from Santa Monica up to West Hollywood
so a huge amount of area that weo is
operating and this is something that you
can see on the road today there are
hundreds of vehicles in operation so
this is a real Robo taxi that you can
call through the weo app or you can get
a wh Mo through Uber as well I'll cover
that in just a second the other company
deploying Robo taxis today is crw this
is a Chevy bolt so a modified Chevy bolt
what Cru is going to be doing they are
owned by General Motors but what they're
going to be doing is next year they're
going to be launching a Chevy bolt that
will be custom made for cruise they
originally wanted to do this kind of
Mini Bus design that had doors that
opened a little bit like a bus you could
fit four people in there would be very
custom made for specifically a robo taxi
but that's not technically legal to
drive on the road without a steering
wheel right now so what they're going to
do is they're going to leverage their
new bolt bring a little bit more scale
to that business and modify that so it
will look a little bit better
theoretically but Cruz is now doing what
they call manual driving and supervised
driving in Phoenix Dallas and Houston
I'll go over where I think they have
some operations in Austin as well but
there are at least those three cities
where they are bringing their vehicles
back to the road if you're familiar with
Cru there was an incident in San
Francisco area in October 2023 that
actually pulled the company's vehicles
from the road their CEO left they kind
of reconfigured everything that they're
doing and they're kind of starting from
scratch from a robo taxi deployment
perspective so making sure that all
their safety measures are in order
they're working with First Responders
all that kind of background stuff that
isn't sexy but you have to do if you're
going to build a big Robo taxi business
so Cruz has been doing that over the
last almost a year now and they are now
back on the road the big item for Cru
recently was they announced a partner
ship with Uber where you're going to be
able to call for a vehicle in Uber and
then get a cruise in the cities where
they're available this is basically the
exact same partnership that weo has so
for cruise it builds out your ride
sharing Network or the demand side of
what you're building you could go
through the cruise app just like you
could go through the whmo app but Uber
has an established customer base so I
think that's a great way to get into the
market and for Uber it brings autonomous
vehicles to their platform with ever
without ever having to develop or build
build those autonomous vehicles
themselves so probably a win-win for
both of these companies but when I say
Cruz and wh are way ahead of Tesla in
Robo taxis what I mean is that Tesla is
not even testing these products in the
market this is from the state of
California they're autonomous vehicle
testing permit holders you can see that
there are a ton of companies that have a
permit to test autonomous vehicles this
is with a safety driver so Apple has one
of these Cruz is here Mercedes-Benz
mobile eye Tesla is on this list but
then if you go down here to permit
holders for driverless testing the
number of permits Falls dramatically weo
is here and they have a ton of cities
where they they're able to operate and
Cruz actually left the California area
so it doesn't appear that they're going
to be launching in California at least
in the near future so we'll see what
happens over the next few months and
then if you go to deployment without a
driver there are only three companies on
this list Mercedes-Benz that may
surprise you but they actually have a
level three autonomous driving system
there is nuro nuro this is a relatively
small company and then wh wh can operate
not just in all of these cities they
actually have some areas where they are
able to operate on the highway that I
don't believe is available to customers
yet but employees are using it so that
is the next step is not just to be able
to go on public roads but also on
highways at speeds of 60 70 M an hour so
that that's a huge step forward for wh
the other big state to watch from an
autonomous driving perspective is Texas
this is where Tesla is headquartered so
you would think if Tesla is going to be
testing anything they're going to be
doing that in Texas but let's look at
some of the operators and what I want to
look at here is these little car symbols
so this is up in the Dallas area you can
see that Cruz is operating in Dallas
here's another one here for Cruz if you
go down to Austin you you have whmo
Volkswagen actually has some testing
going on that would be likely through
mobile ey zuk which is owned by Amazon
AV ride and then Cru again if you go
down to Houston this is another one of
those areas that Cruz has said that
they're going to be expanding who do you
not see on this list you don't see Tesla
on this list because they are not
testing any level three level four or
level five autonomous driving in the
states of California and Texas thanks to
our friends at the mle fool for
answering this video visit f.com ym for
the top 10 stocks to buy right now so
what we know today is that Uber Cru and
wh are all working together in one form
or another to launch autonomous vehicles
to launch Robo taxis into the market to
actually have real people riding in
those Robo taxis the one company that
does not have any of those products is
Tesla and even from a regulatory
perspective testing autonomous driving
features Tesla is not on this list that
means that it's likely going to be 2 3 4
years before Tesla will be allowed to
drive fully autonomously on the road
without some sort of a safety driver
there is nowhere in the US today that
you're able to get a permit to have a
completely autonomous vehicle without
doing any sort of testing so we need to
go through that phase completely before
Tesla would ever have some sort of
robotaxi on the road and we don't know
exactly what the business model for T
Tesla is going to be even if they figure
out autonomous driving which they
haven't done with the current versions
of FSD you may have noticed that they
have now replaced FSD with supervised
FSD with FSD supervised in all of their
documentation that means that they're
really saying so after a number of
lawsuits they are explicitly saying that
this is a pro product that has to be
supervised they have not gotten to the
point where you're able to go completely
hands-free now musk has said in the past
that they're going to at least build
some sort of Fleet themselves to start
this Robo taxi business that may not be
for a couple of years by that time will
likely have thousands maybe even tens of
thousands of wio and cruise vehicles on
the road building this autonomous
vehicle Network this Robo taxi Network
they will be potentially years ahead of
Tesla and that's if Tesla ever gets to
the road with a vision only Robo taxi I
am skeptical that they were will ever be
able to do that I'm certainly willing to
be proven wrong but I haven't seen any
data to show that they will be able to
drive Tesla vehicles with only only
Vision Without a driver and do that
safely so I think if you're interested
in autonomous driving two companies to
watch is actually General Motors trading
about five times earnings you basically
get Cru for free and wh so alphabet so
you get the search engine all of that
and you get the upside from whmo don't
think you're paying a lot for that
either I think those are much better
risk reward benefits from an investor
perspective than Tesla is today but let
me know what you think in the comment
section below don't forget to subscribe
to asymmetric investing thanks for
watching everybody see you next time
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