Tesla Network targets Uber with new ride-sharing scheme

"It's not Tesla versus Uber, it's the people versus Uber," says Musk, as he looks towards a new ride-sharing platform called Tesla Network

Tesla Model S 60D 2016 - front tracking

Tesla is aiming to take on the likes Uber and Lyft with its own ride-sharing scheme, called Tesla Network, its CEO Elon Musk has revealed.

The announcement was part of Tesla’s third-quarter review, where the Californian EV manufacturer surprised investors by reporting its first profit in more than three years. The $22 million profit is welcome news as Tesla moves ahead with its new Model 3. The company is ambitiously targeting to raise annual production to 500,000 electric vehicles by 2018, up ten-fold from last year.

• Driverless cars: the ultimate guide to self-driving vehicles

Earlier this month, Tesla announced that all new Teslas will come with the hardware needed to achieve full, level 5, autonomy. Musk has now said that Tesla owners will also be able to share their cars on demand using Tesla's own Tesla Network.  

Speaking to analysts, Musk said the network would work as a value-adding incentive for buyers. “This would be something that would be a significant offset on the cost of ownership for a car, and a revenue generator for Tesla as well.” However, Musk emphasised that owners would be gain the most: “But the majority of the revenue would go to owners.”

Musk also hit against critics that Tesla Network is simply the electric car giant’s plan to take on the likes of Uber and Lyft. He said: “This has been characterised as Tesla vs. Uber. But it’s not Tesla versus Uber, it’s the people versus Uber.”

Tesla’s move follows a number of recent announcements from other car companies aligning themselves with ride and car sharing schemes. General Motors has already announced a $500 million investment into ride-sharing scheme Lyft, while its rival Toyota recently confirmed a strategic investment into Uber. Uber has also confirmed it's working with Swedish carmaker Volvo to create an autonomous taxi for the future

What do you think of Tesla's plans to take on ride sharing giants? Tell us in the comments below.  

Recommended

UK child car seat, booster seat and baby seat laws explained
Child seat booster seat car seat
Consumer news

UK child car seat, booster seat and baby seat laws explained

Detailed info on latest baby seat and child seat regulations, plus when it’s OK to use a booster seat
24 Mar 2021
8,800 drivers on UK roads with 12 points
Driver with second highest points doesn't have licence
News

8,800 drivers on UK roads with 12 points

There are currently 8,800 drivers in the UK still driving despite having enough penalty points to trigger an automatic ban
9 Mar 2021
VED road tax: how much does it cost?
car tax calculator
Consumer news

VED road tax: how much does it cost?

Confused by VED road tax? Our comprehensive guide explains how much you'll pay on your next car
4 Mar 2021
Budget 2021: Fuel duty frozen for 11th consecutive year
News

Budget 2021: Fuel duty frozen for 11th consecutive year

Chancellor scraps plan to increase fuel duty in bid to keep cost of living down during ongoing Covid-19 pandemic 
3 Mar 2021

Most Popular

New Volkswagen Touareg R 2021 review
Volkswagen Touareg R - front
Volkswagen Touareg

New Volkswagen Touareg R 2021 review

Our verdict as the Volkswagen Touareg R performance SUV gets plug-in hybrid tech
16 Apr 2021
New 2021 SEAT Ibiza facelift arrives with styling and tech updates
SEAT Ibiza facelift - front
SEAT Ibiza Hatchback

New 2021 SEAT Ibiza facelift arrives with styling and tech updates

The SEAT Ibiza supermini has been tweaked for 2021, with a new interior the star of the show
15 Apr 2021
New 2021 Audi Q4 e-tron on sale now, priced from £40,750
Audi Q4 e-tron - front
Audi Q4 e-tron

New 2021 Audi Q4 e-tron on sale now, priced from £40,750

Two body styles, three powertrains and four trim-levels confirmed for Audi’s compact Q4 EV, including a 295bhp quattro option
15 Apr 2021