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Electric car manufacturer Tesla and its CEO Elon Musk on Tuesday unveiled new details of its long-awaited autonomous ride-hailing service — allowing riders to summon supposedly driverless vehicles via an Uber-like experience.&nbsp;
During a first-quarter earnings presentation on April 23, the company gave a <a href="https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q1-2024-Update.pdf" target="_blank" rel="noopener noreferrer nofollow">preview</a> of what the ride-hailing app could look like, showing the ability for a rider to summon a vehicle, set the interior car temperature, track its location, and decide what music to play.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/6b4d297d-0dee-441b-ad5b-53e4a8f40e5e.jpg">
 <figcaption style="text-align: center;">Preview of the ride-hailing service within the Tesla app. Source: Tesla&nbsp;
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Tesla has long teased the mass rollout of robotaxis. In 2019, Musk said he was “very confident” that Tesla would begin operating robotaxis by 2020 — something that didn’t come to fruition.&nbsp;
The program would let a <a href="https://cointelegraph.com/news/elon-musk-dogecoin-doge-buy-teslas-at-some-point" rel="noopener noreferrer nofollow">Tesla owner</a> rent out their vehicle for rides, with Tesla taking a cut of revenue and the rest going to the vehicle’s owner — each car was forecasted to make $30,000 in gross profit per car annually.
During the latest earnings call, Musk clarified the program will work more like a “combination of Airbnb and Uber” where Tesla will operate the main fleet but there will be a number of cars owned by the end-user.
“That end-user can add or subtract their car to the fleet whenever they want, and they can decide if they want to only let the car be used by friends and family or only by five-star users or by anyone,” Musk said.
“At any time they could have the car come back to them and be exclusively theirs like an Airbnb,” he added.
Related: <a href="https://cointelegraph.com/news/bitcoin-outpeforms-tesla-stock-first-time-since-2019" rel="noopener noreferrer nofollow">Bitcoin outperforms Tesla stock for the first time since 2019</a>
Musk hinted the initial fleet would be around 7 million vehicles but envisioned it could eventually be in the “tens of millions.”
Tesla is slated to showcase its “purpose-built” robotaxi in August, which Musk has referred to as “Cybercab” in the latest earnings call.
<h2 id="no-tesla-didn-t-add-more-bitcoin">No, Tesla didn’t add more Bitcoin</h2>
Meanwhile, the latest earnings report shows Tesla has not touched its Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) for the seventh straight quarter, contrary to <a href="https://cointelegraph.com/news/tesla-buying-bitcoin-btc-wallet-curiosity" rel="noopener noreferrer nofollow">recent speculation</a>.
Last month, observers noticed that Tesla’s Bitcoin wallet on Arkham Intelligence’s dashboard <a href="https://platform.arkhamintelligence.com/explorer/entity/tesla" target="_blank" rel="noopener noreferrer nofollow">showed</a> a balance of 11,509 BTC, 1,789 more than the widely reported holdings of 9,720 BTC — as <a href="https://bitcointreasuries.com/tesla/" target="_blank" rel="noopener noreferrer nofollow">listed</a> on BitcoinTreasuries.
Some speculated that it could mean that Tesla may have added more Bitcoin to its inventory in the quarter.
However, Tesla’s latest balance sheet shows its net digital assets <a href="https://cointelegraph.com/news/tesla-missed-out-300m-profit-bitcoin-sales" rel="noopener noreferrer nofollow">remain unchanged</a> at $184 million.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/5430d694-9f7e-40de-acb3-b401454c3a8c.PNG">
 <figcaption style="text-align: center;">Tesla balance sheet as of 31 March 2024. Source: Tesla&nbsp;
 </figcaption>
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Telsa shares jumped 13% in after-hours trading despite Q1 earnings missing analyst expectations and the company notching one of its steepest drops in revenue — falling 9% to $21.3 billion.
Magazine: <a href="https://cointelegraph.com/magazine/get-bitcoin-or-die-tryin-why-hip-hop-stars-love-crypto/" rel="noopener noreferrer nofollow">Get Bitcoin or die tryin’: Why hip hop stars love crypto</a>

Tesla teases robotaxi ride-hailing app ahead of August reveal

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