JAA is company whose goal is to own and operate a fleet of Tesla vehicles that are used to create passive income streams by using these unique vehicles in various monetization schemes.
This goal will be realized by purchasing Tesla vehicles to form a fleet of income producing assets. Purchases will be funded by either JAA or investors. Investor will own shares of a specific vehicle and not shares in JAA itself. JAA will retain a minimum of 20% ownership of each vehicle.
JAA expects every vehicle purchased to be run for a minimum of five years. JAA expects every vehicle that it puts into service to run for a minimum 50,000 miles per year. Each investor portion of a vehicle will have a term of five years. At the end of the five year period, JAA will sell the vehicle and distribute the resale value back to all initial investors. A vehicle can remain in service longer if 100% of investors in a vehicle agree to extending the term of the investment. JAA retains the right to be the first in line to repurchase any term ending vehicle.
Monthly dividends will be paid to each vehicle investor. At the end of each month the revenue generated by each vehicle (minus expenses) is distributed among investors based on ownership percentage. The location and monetization method of any vehicle is determined prior to any investor interest is accepted and investors choose the vehicle that they think will produce the best returns.
This mandates that the vehicle must be able to generate significant income, have low maintenance and operating costs, and a high resale value to be a worthwhile endeavor. Location will also be a priority. JAA will focus on finding the best locations for placing cars for the maximum returns.
These are only preliminary outlines of what investors will need to know before investing. Please contact us for details if interested.
The goal of these investments is to make them affordable to people who would not normally be able to invest in this business segment (Taas). This disruption in transportation is being funded and built by huge global companies as there is enormous technology, manufacturing, and regulatory issues that must be worked thru. An investor can be invested in this opportunity by buying stock in the participating companies through stock exchanges. A savvy investor must pick and choose the winners that will ultimately come about by these disruptions. We want to create an investment that allows investors to be business owners. These individual businesses have assets, generate income and are passive (hands off) for owners.
The actual business itself we are talking about will be out of reach of most individuals. Either because of time, location or knowledge, most people just won’t be able to participate in this new business environment. The economics of this new system does not favor individual businesses. We are about to return to the Taxi cab scenario where regulation only allows for ‘licensed’ cabs to operate, thus creating Taxi Companies that own all Taxis, again. The Rideshare model broke this paradigm by allowing for individual owner/operators that had universal access to customers. JAA wants to create an infrastructure where individuals can still have access to the actual business of transportation in this coming transition by allowing individual ownership of the thing that produces the money in this new world. The car itself. Like Airbnb, cars today can create income just by being a car that you let other use. Later, they will generate income by moving people from point A to point B all by themselves. When the economics of car ownership changes from that of an individual luxury item to one where you expect that the car will generate revenue changes everything we know about car ownership. A car’s value will not be determined by how much you are willing to spend for luxury/transportation but by how much money that car can generate. Individual transportation as a need will be removed from the equation. In this system, you the individual must bid for each car produced with every business that wants that car for their business. Why would a manufacturer sell you a car for $35,000 dollars with about 6% margin when they could keep it and run it an fleet making $90,000 a year running it instead? The answer is they won’t. The only car manufacturers that will survive will also be fleet operators. Selling you a car would allow you to compete with them, lowering prices, taking revenue. Basic Economics says you are out of luck.
So if you want to own a business in this sector, you need a car capable of competing in this scenario. You need someone to sell you such a car. You need a way to monetize the car effectively and you need the car to located where this type of activity occurs. You also need people to manage, clean, fuel, fix, and generally take care of the asset to keep it working. This is why we made JAA.
Monetizing A Car
You can get someone to pay you for your car in two ways:
- Rent your car to them and they drive it around for whatever reason they want.
- They pay you to move them from point A to point B for a fee.
This will be true forever. What won’t remain the same is how that is done. In olden times, it was done by huge companies. Hertz would rent you a car or the Taxi company would move you around town for some fee charged at some unknown rate.
Today, we can rent a car like an Airbnb from any individual and take an Uber/Lyft ride from any individual to anywhere. Software platforms and mobile devices (technology) makes this possible. But in each case, it really is the individual who is doing the work in each independent business. A person must manage rentals of his/her car by delivering the car, cleaning the car, checking it in and out. They must park the car, fuel the car. They are running a mini-Hertz business. A person must do the same with their Uber-Mobile and more. They must actually spend the time driving a person where they need to go. They too are a small Taxi company. In all cases, the product being sold is Transportation.
The Gig Economy is really the small business economy. We want to keep the Gig economy alive thru the next technological transition that is taking place, right now.
Car Rental Schemes
Today there are multiple Gig Economy ways that an individual can make money renting their own asset (car). The market of who wants to rent a car is changing all the time and so different platforms are being created to cater to those customers. There is the traditional car renter, someone who just needs a car for a short period of time to do whatever. They are paying to have the privilege of access to the car at all times. If they drive it to a hotel, park it for a week and then drive it back they pay for the week even if they only drove it for 8 hours. That is a luxury. There are people who want to rent a car to get from point A to point B and that is it. Like renting an electric scooter. Pick it up here, drop it there. Done. They pay only for the time that they use it. In this scheme, the car can be rented many times a day but who knows where it ends up. Then there are rentals to people who want to drive people from point A to point B, like rideshare drivers. Why use a personal car, when you can put miles on someone else’s car. Technology allows these paradigms to exist. These are platforms that allow this type of Gig Economy Businesses (and by no means the only).
Turo is the Airbnb of cars. It allows individuals the ability to rent their car(s) to strangers. It is a website and a mobile app for both the renter and the asset owner.
The entire rental process is controlled via the mobile phone app. Check out, check in, pictures, billing. Check in and out and car delivery must be done by a person. Location of the vehicle is important in how often a car is actually rented. You can rent right from your house, but you will probably have to deliver the car to the renter and pick it up later. Another factor in rental frequency is what kind of car you are renting. Higher end, luxury or unique cars generate higher daily rental rates.
Almost all rentals occur on the web site. As a business owner, they cover billing, insurance coverage, advertising, scheduling, rate setting and basically they give you a turn-key business just by signing up. There is of course a cost. They take a percentage of the sale which is wholly appropriate. This is not a hands off business, but it is not labor intensive in any way.
Another platform is Getaround that rents cars by the hour or day. This platform requires that the car is ‘connected’ so that the potential renter can simply walk up to the car, press a button, and the car is unlocked and ready to drive. When they get out, they simply lock the car with the app (where ever they are) and it is ready for the next rental. Cars are rented either hourly or daily. The platform provide access to customers, lock and unlock tech, tracking, billing, and insurance. This business does involve manual intervention to go get a car at the end of the day to manage the car for the next day. This is also, not a hands off business. This concept only works in certain geographic areas where the car can be geofenced (boxed into an area), and urban enough to support enough revenue. And most importantly, the car must have specific technology in it to participate in this scheme.
Also, General Motors has a sub-division called Maven that is very much like Getaround. They allow people to rent a car hourly, daily, or subscription. Additionally they support location based subscription rentals where say an Apartment complex could have a Maven lot in the complex and any subscriber could pick up any car, at any time and return it to that fixed lot. This is also mobile app driven and requires that a car be fitted with GM On-Star technology plus a little more. This limits the service to only GM cars. This service is not doing well, but the concept is sound (except the GM thing).
For JAA purposes any platform will do as long as it produces enough revenue, can use vehicles we deem appropriate, and can be accomplished with no investor hands on input. JAA will facilitate the setup and configuration of each vehicle/platform.
The other monetization platform is to get paid moving a person from point A to point B. This is normally called Rideshare where an individual will pick you up at your location and drive you to where you want to be for a fee using their own car. The rideshare driver is literally transforming his/her asset (car) into money. It does require that they physically drive it however to make that happen. This is very hands on. However, it can be cost effective for rideshare drivers to rent the asset (car) so that they can reap the driving money. The car owner simply gets a daily/weekly/monthly rental fee for use of the car. This usually includes maintenance and insurance, but not fuel or wear and tear damage. This is why all rideshare companies provide this service! So do all car manufacturers and rental car companies. There is demand. Individuals also can rent to these drivers thru multiple platforms such as Getaround and others.
There is a dynamic here where if a driver is renting a car for this purpose, it probably sits idle for 16 or more hours a day when the driver is not driving. It only makes sense for the driver to pay for the car when they need the car. It also makes sense for the car owner to rent the car 24/7 if possible to maximize income over time. They do not quite match up.
We have identified the business requirements necessary to make an asset (car) generate revenue and some general use-cases of how that revenue can be generated. We need to identify what type of car(s) can best be used to create the best business case where costs are minimized, revenue opportunities are maximized, technology/connectivity is built into the car, future technology is part of the current car, and return on investment can be optimized. We have identified only one car that meets these requirements. Tesla.
To create a passive or any investment using a car as the basis of the asset value, is very non-traditional. There must be some valid economic reasons to justify such an investment. Traditionally, any new car loses a large part of its value as soon as it leaves the dealer lot. This is like investing in a stock the always loses 40% of its value the day you buy it with the hope that somehow you can make it back by getting dividend payments and a large resale price when you close your position. This simply does not exist and certainly not with automobiles. But the Tesla vehicles offers a unique opportunity based on the attributes associated with only this car that makes this a possible investment opportunity that has never existed before. This unique combination of software and hardware is what makes this enterprise economical for JAA and its investors.
Electric cars motors are very efficient, usually in 95+% efficiency. They have one moving part, the bearing and need no maintenance for around 1 million miles. They do not need oils, coolants, transmissions, tuning, or repairs or annual servicing. They do not lose power or performance over time. Tesla has the best electric motors in the business.
Batteries define the operational range of any electric vehicle. Like how far can it go or how long will it take to charge and be back on the road. For a gas car, this is like the size of the gas tank, its efficiency, and time to fill up. Also, batteries have a life span. On Teslas the battery is warrantied for 8 years or 150,000 miles. The manufacture now states that their batteries are built for 1 million miles as well. This life span is not defined by when the battery becomes unusable, but only when it drops below 80% of its original capacity. This warranty is only for Teslas. Below a certain level, it is of diminished value as it relates to operating a car efficiently but has another 20-30 years life expectancy in grid storage or other applications. This is not true for all batteries. Those used in PEV hybrids and other EVs are not the same as those used in a Tesla and typically completely useless after 100,000 miles.
Only Tesla batteries can power a car for 300+ miles, charge in 30 minutes, and last 20 years.
Seems like a weird thing to talk about, but it factors into the cost of ownership! Electric cars that use regenerative braking rarely, if ever, need brake work done since the mechanical brakes are rarely used. In the short term this is not that important, but over the five year investment this equates to a very large cost savings.
Charging times for an electric vehicle determine how long the car can be on the road and how expense it will be to drive. If it takes 12 hours to charge a car, it can only be rented for the other 12 hours and then only if the charge will last that entire 12 hour period.
Third party charging networks (level 2), work at around 8-10 kw in power. This level of charging will take 12+ hours to charge a small electric car battery and much more to charge a Tesla fully as the batteries are typically more capacity. These options are not useable in a commercial setting.
Third party charging networks (level 3), work at around 50kw in power with some planned to go as high as 800kw at some point. Virtually none of them exist at this time and no other electric car available can use more the 50kw (except Tesla) anyway.
Super Chargers (Tesla level 3), work at 120kw to 350kw in power and can fully charge a Tesla (only) in 15 minutes for version 3 and 30 minutes for version 2. Tesla does not allow these charging stations to be used for ridesharing purposes as the intent of these chargers is to facilitate long range travel and ridesharing in urban areas would congest the sites. Also, Tesla is in competition with all rideshare companies so this would be expected.
‘Home’ Chargers or more accurately, private chargers, can be installed anywhere there is electricity. These units typically can charge up to 50kw and can recharge a Tesla in about 4 hours and offer business opportunities in and of themselves. Other electric vehicle ‘home’ chargers are usually limited to about 7kw max and would be unusable in any commercial operation.
In conclusion, only Tesla charging options are viable for any commercial applications using electric vehicles. Super Charging provides individual renters convenience and availability to go anywhere, anytime, with no hassles. Home Charging scenarios can be built to service ridesharing operation rentals that maximize driving time making that opportunity a possibility as well. There is no other electric car option here.
The JAA investment model requires that the owner/investor have access to the car in remote locations. This includes: GPS location of the car, speed and acceleration telemetry, status of the car battery levels, tire wear, ability start/stop the car, ability to open or lock the car, ability to communicate with passengers in the car. All of this allows for a safer, more secure car that can be managed from any distance. All of this connectivity is built into every Tesla. All other cars require this as additional hardware and software and monthly fees. Teslas are also the only car that can be updated over the air (OTA) for not only repairs but upgrades. Teslas get better over time, other cars do not. In fact, most cars age badly because the technology they left the lot with is obsolete long before the car itself is.
A foundation of this business opportunity requires and is built upon a technological backbone. This can only be done with a high degree of technology. Teslas have an integrated super computer in the car. This is not true for any other car. On computer controls all aspects of the car. In other cars, each component usually has its own controller (computer) that is then connected and controlled by other computers that then send that to the user dashboard. Most modern cars have 40 or more separate computers in them. All points of failure and obsolescence. Teslas also come with self-driving hardware such as 8 cameras, 12 ultra-sonic sensors, and Radar and the ability to control steering, navigation, acceleration and stopping. No other car comes equipped with this level of technology as standard equipment.
Tesla has stated that all cars manufactured since October 2016 are capable of full self-driving at the end of 2020. All those cars manufactured before May 2018 will require a chip upgrade. A 10 minute job to complete.
NO other car company in the world plans to sell self-driving cars to the public. Ever.
They will build them, sure, but sell them? No. Not to you or me.
Cost to run
To evaluate if a viable investment can be made using a car as passive income generator, you must know what it will cost to run per mile versus what you can make per mile. We will break that down next.
Cost for fuel
To move the car for 250,000 miles you will need to pay for the fuel to do it.
The cost for electricity in the USA average about $.11/Kwh. This will vary from location to location. Some are more expensive and others are cheaper.
To calculate the ‘mpg’ of Tesla you can use this formula: 325 miles rated range / 60 Kilowatt (battery size) = 541 watt hours/mile. I actually average about 250. Way better that advertised, but we will use the 325 to be fair.
250,000 miles * 325 watt hours/mile = 81,250 Kilowatts of juice. Multiplied by $.11/kwh = $8,937.50 in fuel costs for this entire 5 year period.
This equates to less than $.04/mile to fuel the car. The car will get better than that. The car will get free charging from time to time. It is not hard. In one year of driving (about 15,000 miles so far), I think I have paid $50 so far. This calculation is actually the worst case scenario.
Cost to maintain
Any car will need maintenance over a 5 year period. What that includes is very is important.
The 5 year owner maintenance required by Tesla is 1 interior air filter and windshield wiper fluid. No kidding. Say $200.
You will need tires. Brakes are not an issue as noted, but eventually wheel bearings might need to be replaced. We are talking 50k miles per year, for 5 years, or 250,000 miles on the asset life of this car. That is at least 5 sets of tires. Say $5000. Bearings add another $2000 and that’s a maybe.
Tesla: $7,200 or $.03/mile
Cost To Own
Your asset’s initial value is the purchase price. It always has a value after that and that is what you can sell it for on that day. With any new car that is about 40% less as soon as the wheels leave the car lot. As a business owner, you just lost 40% of your business right there.
A brand new Tesla Model 3 SR+ costs $39,900. That includes premium everything, leather, stereo, wheels, etc. It has a 240 mile range (upgradeable to 325).
They are cheaper to buy then say JAA’s 2018 Long Range RWD with Full Self Driving version which JAA paid nearly $60k for. JAA would only sell it for nearly $60k. This is the same with everyone else who has one. But for the sake of our calculation, let us say this car is worth $20,000 in five years. JAA think this is low, you may think it is too high. Wait till the end of this article to decide.
$40,000 – $20,000 = $20,000 asset cost. This is what the investor will lose of his/her original investment amount over a 5 year time line.
The car must MOVE to make any money. We will use a worst case example (ridesharing) for monetization. Car rentals generate much less mileage/dollar.
200 miles per day * 5 days a week = 1000 miles a week.
1000 miles * 50 weeks = 50,000 miles a year or 250,000 miles over the term of the investment.
Your cost for owning this asset = $20,000 / 250,000 miles = $.08/mile to own the asset.
This is important to know, because as an investor, this is the MINIMUM amount your asset must generate per mile it is used over the term of the investment for you to just break even on your initial investment amount. This does not cover the costs to actually run the car, just to own it.
As an investment, your 5 year business plan has ended. Assume that the purchase date was 2019.
Normally, resale value for a 5 year old car with 250,000 miles on it is a non-factor. You can assume $0 or so near to it that it makes no difference.
A Tesla is a little different (and one of the main reasons this works).
You have invested in an asset that you used to generate income. Time to go to the cashier and cash in our chips. How did you do?
- The car has a 1 million mile motor. It is electric with 1 moving part (the bearing). It will go as fast and have as much power at 1 million miles as it had on mile 1. So from a performance stand point, the car is good a new. Even then, a replacement motor is only about $400 in 2019. In 2024 a replacement will be cheaper and better, but you won’t need it.
- The battery is warrantied for 8 years We are in year 5. Newest versions have 1 million mile warranty on the battery. If you needed to, you could replace the battery in 2024 with a 2024 battery tech. It will undoubtably be better than what you started with. At today’s prices that would cost about $8,000. Prices are dropping 30% a year on batteries. Do the math. If you do replace a battery at that time, it is not ‘worthless’. These batteries will be highly sought after for grid storage solutions as they have an expected life expectancy of around 20 year. So you will be able to sell it. Think about that.
So, if this car can do 1 million miles in its life span (about 10-20 years), and you maintain it well, what is it worth in 5 years?. A whole hell of a lot more than $0.
Total Cost of Ownership
The total costs for this investment is the cost to own + the cost to run. We will use the denominator of miles to determine all costs and income to do our calculations. We will assume that our asset accrued 250,000 miles over the five year period. But, if that becomes either higher or lower, the math still works.
|Cost to own||$.08/mile||$20,000|
|Cost to fuel||$.04/mile||$8,937|
|Cost to maintain||$.03/mile||$7,500|
|Cost to insure||$1200/year||$6,000|
|Total cost to generate income over five year term||$42,437|
With this in mind, an investor would have paid $40,000 for the investment to start. Over the five years of operation, the car would have incurred $42,437 dollars of costs to operate. The investor would be returned the $20,000 for the resale of the car.
If we assume that whatever monetization mechanism generated $1/mile of income for every mile driven, we get an income stream over the five year period of $250,000, or $50,000/year.
Subtracting the cost of operations ($42,437) we get a net of $207,563 or $41,51/year. Net to the investor is $20,000 returned for resale, $41,000 per year in passive income for five years.
This is of course assuming that the car does indeed to 50,000 paid miles per year at $1/mile.
This chart is for $1/mile income. Note that there is an additional $6000 over the five year period for insurance that is independent of mileage.
|Miles driven per year||Cost to Own per year||Net per year||Return to Investor|
|10,000||$1,500||$8,500||$42,500 + $20,000|
|50,000||$7,500||$42,500||$212,500 + $20,000|
This chart is for $.30/mile income. Note that there is an additional $6000 over the five year period for insurance that is independent of mileage.
|Miles driven per year||Cost to Own per year||Net per year||Return to Investor|
|10,000||$1,500||$3,000||$15,000 + $20,000|
|50,000||$7,500||$15,000||$75,000 + $20,000|
These income examples would need to assume that all fees to the various platforms have been paid and the income in NET to the asset owner. Also, this example is for the whole car. JAA always hold 20% of the car and thus 20% of all costs and income. These charts are for illustration purposes only and do not represent any prediction of actual costs or income for any particular car. That will vary with each car, each location, each monetization type. This is just guide to begin an understanding of the thought process that is JAA. Please note that the 10,000 miles scenario above results in the investor losing money, about $11,000 dollar worth.
How do you make an asset generate income?
Well that is actually not too hard when you are the owner/operator. Running your own Tesla as a business will make you money for your efforts. But that’s not JAA. We need to create income for our investors in a passive way and that means paying someone else to do the hard yards. So our income charts above are for NET income per mile. Lets see what/where/and HOW we can generate an calculate some net income streams.
Turo (car rentals)
JAA rents its car for anywhere between $99/day and $139/day on Turo. Our net per day averages over $100 per day per rental. We average about 100-200 miles per day mileage but we charge $.69/mile for any miles over 150. This gives us close to our $1/mile goal. This is after Turo platform fees. This is our only expense directly related to this income, but it does require manual labor to clean, check in/out, and deliver/pickup. We will need to pay someone to do this for an investor. We have options!
In the Denver area, we keep our JAA car at the Denver International Airport. This is a great location for renting to travelers, but we also get a lot of renters just wanting to try out a Tesla for a day or 2. We park the car in a nearby lot called Fine Airport Parking. This lot offers indoor covered parking, cleaning, detailing on site, 40 high speed Tesla chargers, shuttle buses to and from the airport, great customer lounge for our guests. It is a very nice customer experience. HassleFree offers us all the above access plus attendants that run our Turo rentals in addition to the above amenities. They get notified for every booking, prepare the car for the renter, do the check out and check in procedures, bill for tolls and fees and Super Charging costs. All for one monthly fee. This makes this vehicle 100% hands off. This fee costs us $300/month, but other options exist. 3 rentals/month pays for the service. We are evaluating what our net $/mile will be over time with this service. We will update as information is available.
Another benefit to us personally (as investors), is that we can pickup this car whenever we are in Denver for free, use the car as we wish and then just check it back in when we leave. Imagine having an investment car in all your favorite travel locations.
Carmiq (and other Gig service providers)
This company actually runs Tesloop. They drive their Tesla about 17,000 miles per month and generate about $25,000 per month. Well over $1/mile, but requires that they also pay a driver. This type of chauffeur service could also rent a JAA asset and would provide constant, consistent revenue. They are creating an app service called Carmiq (JAA is a member). This service provides detailed telemetry information for each Tesla to the owner. It also provide access to service providers such as car cleaners, tires, maintenance etc. available as Gig type work. Ultimately they also envision renting cars thru their service soon.
Rentals to Rideshare drivers
We have experimented with ‘leasing’ a JAA car to rideshare drivers and have had some success, but this type of operations has its own issues. We based our initial billing on miles driven, but this proved unreliable and hard to manage. We settled on a system where the qualified driver could check out the car for an 8 hour shift. This would cost the driver a fixed fee of about $50. A typical shift would incur about 100-200 miles. This only generates about $.50 – $.25 /mile income. The very lowest end of the scale. This equates to a driver paying about $250 a week for use of the vehicle. Since that include charging (fuel) that is actually economical for the driver. Also, multiple shifts on a single day are possible if managed properly. This requires a place to park, charge, etc. which is an additional expense making this a less profitable option. It does provide a consistent volume of income (and mileage).
This does not exist yet, but as explained during Tesla’s Autonomy day presentation, the goal is to have Full Self Driving systems available at the end of 2020. Remember, our 5 year outlook ends on 2024. Before we get into the specifics of the technology and feasibility, lets just look at the ramifications from in income level if this where to be available.
Tesla estimates that rideshare costs (to consumers) would be about $.60/mile. That compares with Uber that runs about $2/mile. They estimate a gross profit of $.65/mile and $.18/mile in costs. That make net revenue at $.83/mile and that is well within our projected range.
The benefit of this system going live will be the platform costs, super charger access (which means automated for this to work) and no driver costs. Parking and cleaning will still need to be address but obviously this will work itself out as another business opportunity for some entrepreneur.
How do you finance a fleet?
JAA purchases every car in the fleet. They find a good location, infrastructure, service providers, income sources that may make a good income stream for investors. JAA sets up the complete income stream and known costs structures. This is then packaged and presented for investors to own shares of this asset. JAA always retains 20% of each asset and is how JAA finances its operations and future fleet purchases.
The Future of Transportation as a Service (TaaS)
By now, you should have some feel for what is coming for Transportation. Car manufacturers are scrambling to make Electric Cars. They are scrambling to make their cars connected and on-line. They are scrambling to embed autonomous driving technology and software (AI) into their cars. All of that is new to every car maker and not something that they know or have competency in. Yet, it is what is required to survive. Why? Because what we have laid out in this page is basically common knowledge to most everyone with a brain in the transportation industry. In addition to that, you have rideshare services providing transportation services that can replace cars totally for some consumers. Car companies, Rideshare companies, and all kinds of startups are pouring over 10 Billion dollars a year into this change. That is what the USA spent for the entire Apollo programs to go to the moon. They want their money back and that indicates that they have expectations that this is not only going to occur, but will do so in the near future.
But here is the reality for you, the individual business entrepreneur, has no play in the long term future of this segment. The end of this trend is Full Self Driving Robo-Taxis. A self-driving, artificially intelligent, robot, whose job is to move people from point A to point B. It is not if, it is when. There will be no need to rent a car or drive an Uber when a car will show up at your beck and call at any time, any where and cost 1/3 of what you could own one for.
So the only question is who will own them? Uber will own a bunch, but they won’t sell you one. Waymo will sell a bunch, but not to you and individual. GM will build a bunch, but they won’t sell them, they will just rent them via their Cruze Automation division. Ford, Toyota, VW and the rest will have some sort of plan in place eventually too, but they will not sell you a robo-taxi either.
Only one car company sells robo-taxis and they do it today. Tesla. I would bet my bottom dollar the day will come when even they will no longer sell them to the public. There is only a small window of time between when there are no robo-taxis and there are only robo-taxis and only first mover individuals can get a seat at this table. Join us.