Economics
Elon Musk Says Tesla Car-Share Network Is ‘the People vs. Uber’
- Full autonomy envisioned as a way to earn back cost of new car
- Musk: ‘Majority of economics would go to the owner of the car’
Is Tesla's Profit a Pie in the Face of Wall Street?
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Elon Musk is making a populist appeal for Tesla Motors Inc.’s much-hyped challenger to Uber Technologies Inc. He said the Tesla Network, the billionaire’s concept for an autonomous car-sharing service, is mainly designed to give owners a way to make money from their electric vehicles when they aren’t using them, not to enrich Tesla’s bottom line.
“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; obviously, the majority of the economics would go to the owner of the car,” Musk said during the automaker’s earnings call. “It’s not Tesla versus Uber. It’s the people versus Uber.”