Verne is the newest participant in the race to develop a fully autonomous, boundary-free EV robotaxi, and it comes at the hands of Rimac.
A sensation in the realm of EV supercars, Rimac is synonymous with ultra-luxurious electric vehicles that push the boundaries of performance, if you’re willing to pay the price.
Now, the company’s founder, Mate Rimac, and two of his closest colleagues from Rimac Group, both Marko Pejković and Adriano Mudri, have launched Verne, the company’s crack at an autonomous robotaxi that will be launched in Zagreb, Croatia, in 2026.
Mudri has been named Chief Design Officer at Verne, while Pejković takes over as CEO of the new venture. Its goal: built a fully autonomous EV, enable it as a mobility service platform, and build an adequate infrastructure to support it.
Fully Autonomous EV
Verne will launch a vehicle that is built upon a completely new platform that is designed around safety and comfort, two factors that the company feels are most important in the robotaxi experience.
Completely engineered from the ground up, Verne will develop an autonomous EV using Mobileye Drive, an autonomous platform.
Starting from scratch and building what it believes will be fully operational within two years, the platform is free of any compromises and disadvantages that would come from developing a groundbreaking vehicle type with scraps inspired by a vehicle designed for human driving.
Mobility Service Platform (MSP)
Tailored for driver-free pickup, passengers are the first thought in Verne’s initial development. Of course, this is no different than traditional ride-hailing services that exist today, but without a human controlling the wheel, things need to be different.
Before ordering a ride, the Verne app will allow users to completely personalize everything. From temperature to comfort to lighting to scent, those who request a ride from a Verne EV can choose everything.
Infrastructure
Verne will expand past Zagreb in the coming years, and each city where the company operates will be the home of the “Mothership,” where every vehicle is inspected, maintained, cleaned, and charged.
Verne’s first production facility for the new EV will be in Croatia. The cars will be deployed worldwide.
New Leadership
Mudri has huge expectations for Verne, which is named after Jules Verne, an author who is said to be “the man who invented the future”:
“Just as he used the theme of travel as the driving force in his storytelling, we use it as our inspiration in shaping a future filled with imaginative innovation and tangible achievement. His faith in the future and his spirit sparked the curiosity in generations of scientists and explorers. Making things that sometimes seem impossible, possible.”
Mate Rimac said the goal for Verne is to have more than just Point A to Point B transportation:
“The end result would be the best possible mobility experience for everyone. This means that every customer will have a better service than the best mobility service enjoyed by the very rich, through the service that is affordable for all. You will have a safe and reliable driver, a vehicle with more interior space and comfort than the best limousines today, and a service that will be tailored to your needs in every possible way.”
Robotaxi Design
Verne’s robotaxi vehicle will have two seats and an interior concept that “completely redefines” past narratives about interior space. Mudri said that 9 out of 10 rides through ride-hailing services are used by 1 or 2 people:
“Therefore, we can satisfy most of all trips with a two-seater and create unmatched interior space in a compact-sized vehicle. We completely redefined interior space. More space than a Rolls-Royce to relax and spend your time well.
It will also feature things like music and movies with an ultrawide screen and 17 speakers for enhanced audio.
As for the exterior, it will be sleek, with deeply integrated cameras, radars, short and long-distance-lidars, no windshield wipers, and no side-view mirrors:
Čestitamo Mati Rimcu i njegovom timu na izradi prototipa budućeg autonomnog električnog vozila, “Verne”! Ponosni smo na još jednu ?? inovaciju koja će mijenjati svijet. Podupiremo ulaganja koja povezuju digitalnu i zelenu tranziciju i ostvaruju ciljeve 5️⃣.industrijske revolucije. pic.twitter.com/3yK73MESr7
— Andrej Plenković (@AndrejPlenkovic) June 26, 2024
“This makes the aerodynamic performance more efficient and allows for easier cleaning. One typical element of an automobile we kept is the trunk. So you don’t need to worry if you‘re going to the airport with a lot of luggage or just finished a major grocery shopping.”
There’s a long way to go, a lot of competition, and so many variables that come into play with this new project.
I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.
Tesla stock (NASDAQ: TSLA) closed at an all-time high on Tuesday, jumping over 3 percent during the day and finishing at $489.88.
The price beats the previous record close, which was $479.86.
Shares have had a crazy year, dipping more than 40 percent from the start of the year. The stock then started to recover once again around late April, when its price started to climb back up from the low $200 level.
This week, Tesla started to climb toward its highest levels ever, as it was revealed on Sunday that the company was testing driverless Robotaxis in Austin. The spike in value pushed the company’s valuation to $1.63 trillion.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
It is the seventh-most valuable company on the market currently, trailing Nvidia, Apple, Alphabet (Google), Microsoft, Amazon, and Meta.
Shares closed up $14.57 today, up over 3 percent.
The stock has gone through a lot this year, as previously mentioned. Shares tumbled in Q1 due to CEO Elon Musk’s involvement with the Department of Government Efficiency (DOGE), which pulled his attention away from his companies and left a major overhang on their valuations.
However, things started to rebound halfway through the year, and as the government started to phase out the $7,500 tax credit, demand spiked as consumers tried to take advantage of it.
Q3 deliveries were the highest in company history, and Tesla responded to the loss of the tax credit with the launch of the Model 3 and Model Y Standard.
Additionally, analysts have announced high expectations this week for the company on Wall Street as Robotaxi continues to be the focus. With autonomy within Tesla’s sights, things are moving in the direction of Robotaxi being a major catalyst for growth on the Street in the coming year.
Elon Musk
Tesla needs to come through on this one Robotaxi metric, analyst says
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Tesla needs to come through on this one Robotaxi metric, Mark Delaney of Goldman Sachs says.
Tesla is in the process of rolling out its Robotaxi platform to areas outside of Austin and the California Bay Area. It has plans to launch in five additional cities, including Houston, Dallas, Miami, Las Vegas, and Phoenix.
However, the company’s expansion is not what the focus needs to be, according to Delaney. It’s the speed of deployment.
The analyst said:
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Profitability will come as the Robotaxi fleet expands. Making that money will be dependent on when Tesla can initiate rides in more areas, giving more customers access to the program.
There are some additional things that the company needs to make happen ahead of the major Robotaxi expansion, one of those things is launching driverless rides in Austin, the first city in which it launched the program.
This week, Tesla started testing driverless Robotaxi rides in Austin, as two different Model Y units were spotted with no occupants, a huge step in the company’s plans for the ride-sharing platform.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
CEO Elon Musk has been hoping to remove Safety Monitors from Robotaxis in Austin for several months, first mentioning the plan to have them out by the end of 2025 in September. He confirmed on Sunday that Tesla had officially removed vehicle occupants and started testing truly unsupervised rides.
Although Safety Monitors in Austin have been sitting in the passenger’s seat, they have still had the ability to override things in case of an emergency. After all, the ultimate goal was safety and avoiding any accidents or injuries.
Goldman Sachs reiterated its ‘Neutral’ rating and its $400 price target. Delaney said, “Tesla is making progress with its autonomous technology,” and recent developments make it evident that this is true.
Investor's Corner
Tesla gets bold Robotaxi prediction from Wall Street firm
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Tesla (NASDAQ: TSLA) received a bold Robotaxi prediction from Morgan Stanley, which anticipates a dramatic increase in the size of the company’s autonomous ride-hailing suite in the coming years.
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Percoco dug into the Robotaxi fleet and its expansion in the coming years in his latest note, released on Tuesday. The firm expects Tesla to increase the Robotaxi fleet size to 1,000 vehicles in 2026. However, that’s small-scale compared to what they expect from Tesla in a decade.
Tesla expands Robotaxi app access once again, this time on a global scale
By 2035, Morgan Stanley believes there will be one million Robotaxis on the road across multiple cities, a major jump and a considerable fleet size. We assume this means the fleet of vehicles Tesla will operate internally, and not including passenger-owned vehicles that could be added through software updates.
He also listed three specific catalysts that investors should pay attention to, as these will represent the company being on track to achieve its Robotaxi dreams:
- Opening Robotaxi to the public without a Safety Monitor. Timing is unclear, but it appears that Tesla is getting closer by the day.
- Improvement in safety metrics without the Safety Monitor. Tesla’s ability to improve its safety metrics as it scales miles driven without the Safety Monitor is imperative as it looks to scale in new states and cities in 2026.
- Cybercab start of production, targeted for April 2026. Tesla’s Cybercab is a purpose-built vehicle (no steering wheel or pedals, only two seats) that is expected to be produced through its state-of-the-art unboxed manufacturing process, offering further cost reductions and thus accelerating adoption over time.
Robotaxi stands to be one of Tesla’s most significant revenue contributors, especially as the company plans to continue expanding its ride-hailing service across the world in the coming years.
Its current deployment strategy is controlled and conservative to avoid any drastic and potentially program-ruining incidents.
So far, the program, which is active in Austin and the California Bay Area, has been widely successful.
Tesla stock closes at all-time high on heels of Robotaxi progress
Tesla needs to come through on this one Robotaxi metric, analyst says
