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Xpeng Inc. (NYSE:XPEV) Vice Chairman and Co-President Brian Gu expressed his skepticism about the immediate future of self-driving taxis as a lucrative business.
What Happened: Gu, speaking at the Beijing auto show, said that the commercial viability of robotaxis is at least five years away, reported CNBC on Thursday. This timeline is notably longer than what Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has suggested. Tesla is actively developing AI software for a robotaxi network.
“Right now it’s not something that we are considering when we are launching and planning the sales,” said Gu. Xpeng, a China-based electric car startup, has made driver-assist software a key selling point.
“To have a real, full-fledged commercial operation. I think it's more than 5 years away.”
Despite this, Gu acknowledged the interest in showcasing technology and achieving milestones in China, where companies like Baidu Inc. and Pony.ai have been authorized to charge for fully driverless taxis in certain areas.
Why It Matters: Musk has been a vocal advocate for the potential of robotaxis, despite challenges such as recent vandalism incidents and regulatory hurdles. He has even suggested that the Tesla Cybertruck might be necessary for robotaxis in San Francisco.
Analysts have also been weighing in on Tesla’s next-generation vehicle future, with some seeing the company as a transformational technology company that could deliver outsized returns.
Goldman Sachs analysts have recognized Tesla as a leader in the autonomy and Advanced Driver-Assistance Systems (ADAS) landscape, projecting significant long-term growth from its robotaxi services.
Image Via Shutterstock
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