From Financial Modeling Prep: 2024-10-11 18:33:00

Uber Technologies (NYSE:UBER) shares surged 10% after Tesla’s Robotaxi event disappointed investors. Jefferies analysts view the event as a win for Uber, as Tesla’s autonomous vehicle advancements were limited, particularly around the Cybercab. Tesla plans full self-driving capabilities in California and Texas by 2025 for Model 3 and Model Y, with Cybercab production in 2027.

Tesla’s lack of concrete data on its robotaxi fleet opens opportunities for Uber to leverage its ridesharing strengths. Uber’s role in autonomous vehicles could make it a key partner for AV developers, offering market support as they tackle technological and regulatory challenges.

Jefferies predicts Uber’s adoption of robotaxi technology will lower mobility costs, driving rideshare demand. Uber’s established platform provides AV developers with advantages like optimized fleet management, competitive pricing, and support for local compliance and consumer adoption. This positions Uber as a valuable partner in the autonomous rideshare industry’s evolution.



Read more at Financial Modeling Prep:: Uber Shares Jump 10% as Tesla Robotaxi Event Fails…