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Waymo could dominate 60% of driverless taxi market by 2030
A report from investment bank UBS has revealed that Waymo would likely command up to 60% of the driverless taxi service market by 2030. According to the financial firm, Waymo’s dominance of the self-driving taxi industry could force the world’s prominent carmakers to adopt its autonomous technology.
UBS noted in its report that global revenues from self-driving taxi services could reach up to $2.8 billion per year by 2030. The financial firm further stated that Waymo’s lead in the driverless industry has managed to reach a point where only a few automakers, such as General Motors and Daimler, would likely be able to rival the Google-based company.
UBS expects that by 2030, 12% of cars sold will be used for driverless taxi fleets, with a total of 26 million autonomous vehicles in operation. As a result of the emergence of driverless vehicles, the investment bank expects that private car sales will see a 5% decline, according to a report from The Manufacturer.
The advent of self-driving taxi services will not happen in the next few years, however, according to UBS’ recent report. Depending on the public’s acceptance of the technology, the financial firm expects that demand for self-driving vehicles will really take off around 2026. The bank also predicts that the adoption of the technology will vary between different markets. So far, however, UBS states that Waymo currently stands as the company that could benefit most from the emerging self-driving taxi market, considering that Google has been committed to the technology for years.
“Unlike most auto players, Google focused on full self-driving technology from the very beginning — more than five years before the auto industry started working on it,” the report noted.
UBS’ report on Waymo may very well prove to be accurate. The company, after all, has already garnered 5 million miles of physical testing and 5 billion miles of virtual testing. More vehicles are being added to its fleet as well. Earlier this year, CEO John Krafcik unveiled the company’s latest car in its fleet — the all-electric Jaguar I-PACE. According to the CEO, Waymo is hoping to deploy as many as 20,000 I-PACE driverless taxis within two years of the vehicle’s production.
While Waymo has a lead in driverless systems for now, Tesla’s planned ride-sharing network might prove to be a surprise competitor in the autonomous taxi market. During the company’s first-quarter earnings call, Musk noted that the Tesla Network, a system that enables electric car owners to deploy their vehicles for ride-sharing, would be akin to a “hybrid of Uber, Lyft, and Airbnb.”
“It’s sort of like a combination of Uber, Lyft and Airbnb type of thing, where you can own your car and have a higher percent usage of an autonomous electric car. You can say it’s available generally to anyone who wants to use it when you’re not using it. You can recall it at will. You can restrict usage to only friends and family or only users who are 5-star.”
Musk, however, noted that Tesla must first develop and refine its Full Self Driving suite before such a service is rolled out. Nevertheless, Musk stated that Tesla is making good progress in the development of its autonomous driving suite.
Elon Musk
Elon Musk shares timeframe for X Money early public access rollout
X Money is expected to enable financial transactions within the app, expanding the platform’s capabilities beyond social media features.
Elon Musk has stated that X Money, the digital payments system being developed for social media platform X, is expected to enter early public access next month.
The update was shared by Musk in a post on X. “𝕏 Money early public access will launch next month,” Musk wrote in his post.
As noted in a Reuters report, X Money is being developed as a digital payment service that’s directly integrated into the X platform.
The system is expected to enable financial transactions within the app, expanding the platform’s capabilities beyond social media features.
Musk has previously discussed plans to introduce payments and financial services as part of X’s broader development.
Since acquiring the platform in 2022, Musk has discussed expanding X to include a range of services such as messaging, media, and financial tools.
Elon Musk has shared his goal of transforming X into an “everything app.” During a previous podcast interview with members of the Tesla community, Musk mused about turning X into something similar to China’s WeChat, which allows users to shop, pay, communicate, and perform a variety of other tasks.
“In China, you do everything in WeChat… it’s kickass… Outside of China, there’s nothing like it, people live on one app. My idea would be like how about if we just copy WeChat,” Musk joked at the time.
To prepare for the rollout of X Money, X has partnered with payment company Visa to support the development of payment services for the platform’s users. The move could allow X to tap into the growing demand for digital and in-app financial transactions as the company builds additional services around its existing user base.
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Tesla Cybercab display highlights interior wizardry in the small two-seater
Photos and videos of the production Cybercab were shared in posts on social media platform X.
The Tesla Cybercab is currently on display at the U.S. Department of Transportation in Washington, D.C., and observations of the production vehicle are highlighting some of its notable design details.
Photos and videos of the production Cybercab were shared in posts on social media platform X.
Observers of the Cybercab display unit noted that the two-seat Robotaxi provides unusually generous legroom for a vehicle of its size. Based on the vehicle’s video, the compact two-seater appears to offer more legroom than Tesla’s larger vehicles such as the Model Y, Model X, and Cybertruck.
The Cybercab’s layout allows Tesla to dedicate nearly the entire cabin to passengers. The vehicle is designed without a steering wheel or pedals, which helps maximize interior space.
Footage from the display also highlights the Cybercab’s large center screen, which is positioned prominently in front of the passenger bench. The display appears intended to provide entertainment and ride information while the vehicle operates autonomously.
Images of the vehicle also show an additional camera integrated into the Cybercab’s C-pillar. The extra camera appears to expand the vehicle’s field of view, which would be useful as Tesla works toward fully unsupervised Full Self-Driving.
Tesla engineers have previously explained that the Cybercab was designed to be highly efficient both in manufacturing and in operation. Cybercab Lead Engineer Eric E. stated in 2024 that the Robotaxi would be built with roughly half the number of parts used in a Model 3 sedan.
“Two seats unlocks a lot of opportunity aerodynamically. It also means we cut the part count of Cybercab down by a substantial margin. We’re gonna be delivering a car that has roughly half the parts of Model 3 today,” the Tesla engineer said.
The Tesla engineer also noted that the Cybercab’s cargo area can accommodate multiple golf bags, two carry-on suitcases, and two full-size checked bags. The trunk can also fit certain bicycles and a foldable wheelchair depending on size, which is quite impressive for a small car like the Cybercab.
Elon Musk
Elon Musk’s xAI wins permit for power plant supporting AI data centers
The development was reported by CNBC, citing confirmation from the Mississippi Department of Environmental Quality (MDEQ).
Mississippi regulators have approved a permit allowing Elon Musk’s artificial intelligence company xAI to construct a natural gas power plant in Southaven. The facility is expected to support the company’s expanding AI infrastructure tied to its Colossus data center operations near Memphis.
The development was reported by CNBC, citing confirmation from the Mississippi Department of Environmental Quality (MDEQ).
According to the report, regulators “voted to approve the permit” of xAI subsidiary MZX Tech LLC to construct a power plant featuring 41 natural gas-burning turbines “after careful consideration of all public comments and community concerns.”
The Mississippi Department of Environmental Quality stated that the permit followed a regulatory review process that included public comments and community input. Jaricus Whitlock, air division chief for the MDEQ, stated that the project met all applicable environmental standards.
“The proposed PSD permit in front of the board today not only meets all state and federal permitting regulations, but goes above and beyond what is required by law. MDEQ and the EPA agree that not a single person around our facilities will be exposed to unhealthy levels of air pollution,” Whitlock stated.
The planned facility will help provide electricity for xAI’s AI computing infrastructure in the Memphis region.
The Southaven project forms part of xAI’s efforts to scale computing capacity for its artificial intelligence systems.
The company currently operates two major data centers in Memphis, known as Colossus 1 and Colossus 2, which provide computing power for xAI’s Grok AI models. xAI is also planning to build another large data center in Southaven called Macrohardrr, which would be located in a warehouse previously used by GXO Logistics.
Large-scale AI training requires substantial computing power and electricity, prompting technology companies to develop dedicated energy infrastructure for their data centers.
SpaceX President Gwynne Shotwell previously stated that xAI plans to develop 1.2 gigawatts of power capacity for its Memphis-area AI supercomputer site as part of the federal government’s Ratepayer Protection Pledge. The commitment was announced during an event with United States President Donald Trump.
“As part of today’s commitment, we will take extensive additional steps to continue to reduce the costs of electricity for our neighbors. xAI will therefore commit to develop 1.2 GW of power as our supercomputer’s primary power source. That will be for every additional data center as well. We will expand what is already the largest global Megapack power installation in the world,” Shotwell said.
“The installation will provide enough backup power to power the city of Memphis, and more than sufficient energy to power the town of Southaven, Mississippi where the data center resides. We will build new substations and invest in electrical infrastructure to provide stability to the area’s grid.”
Elon Musk shares timeframe for X Money early public access rollout
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