Tesla(US:TSLA) Business Insider·2024-10-07 16:35Core Viewpoint - Elon Musk aims to position Tesla as a technology company rather than just an electric vehicle (EV) manufacturer during the upcoming Robotaxi Day event, especially as Tesla faces declining revenues [1][3][5]. Group 1: Tesla's Strategic Shift - The Robotaxi Day event is intended to emphasize Tesla's ambitions in artificial intelligence, robotics, and autonomous vehicles, moving beyond traditional automotive manufacturing [3][4]. - Musk has previously indicated plans for a fleet of one million driverless robotaxis, although he missed the initial 2020 deadline for this goal [6][8]. - Tesla's focus on humanoid robots and driverless cars is seen as a way to leverage artificial intelligence for future growth, especially following the rise of AI technologies like ChatGPT [6][7]. Group 2: Financial Performance - In the first half of the year, Tesla reported revenues of $46.8 billion, a decrease from $48.3 billion in the same period the previous year [8]. - Despite a 6.4% year-on-year increase in deliveries for the third quarter, Tesla's market value remains significantly lower than its peak of $1.2 trillion in November 2021, currently over $600 billion short [8]. Group 3: Market Challenges - Tesla faces significant competition in the robotaxi market, with established players like Waymo and Baidu already deploying their own robotaxi services [9][10]. - Regulatory concerns regarding the safety of autonomous vehicles could impact public perception and acceptance of Tesla's robotaxi ambitions, especially following incidents involving other companies' self-driving vehicles [10][11]. - Experts highlight the technical challenges of achieving full autonomy in driving, suggesting that current capabilities may be limited to specific conditions and locations [11].