Tesla lays groundwork for US robotaxi network with Hertz deal says broker

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Hertz and Uber’s partnership with the option to rent Teslas starts the groundwork for a robotaxi network to be built in the US over the next decade, according to broker Wedbush.


Starting November 1, Uber drivers can rent Teslas from Hertz in a handful of US cities


“With more consumers looking/preferring EVs, when renting a car (Hertz) or taking a rideshare (Uber) we continue to believe this massively expands Tesla’s and EVs overall addressable market (TAM).


Safety is the next hurdle to overcome but Webusg says robotaxis are a likely reality for Tesla in the next 2-3 years.


“Today, EVs in the US only represent 2% of overall autos however we believe by 2025 this number will approach and potentially exceed 10% given the rapid electrification we are seeing from the likes of stalwarts such as GM and Ford.


“In a nutshell, the Hertz deal this week was a tipping point for EV adoption and we believe other bulk deals will follow and further benefit Tesla (also GM and Ford likely to be near-term benefits of this evolving dynamic). “

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