Can I Use My Tesla To Make Passive Income?

Can I Use My Tesla To Make Passive Income?


A Las Vegas-based Uber driver explained why he purchased six Teslas with full-self driving and plans on buying more. Tesla Rob (@tesla.rob) posted a viral clip of an interaction he had with a curious passenger who inquired into the electric vehicle they’re riding in. Throughout their discourse, Rob broke down why he believes having cars outfitted with driver-less riding tech will help him bring in passive income.

According to him, once Robotaxi capabilities roll out in areas outside of Austin, Texas and don’t require drivers, folks who own multiple Teslas can make bank. Although right now, he still profits from renting his Teslas to other ride-hail drivers. Furthermore, he told the passenger that he heavily uses full-self driving for his own Uber rides.

Riding In a Tesla Uber

Rob’s video begins with a recording of the interior of his car; there’s two passengers riding in the back. A fish-eye view of the cabin shows off the vehicle’s expansive, glass panoramic roof. Rob speaks to the passengers behind him, one of which asks Rob about owning a Tesla for five years. The TikToker replies, “Yeah, this is my sixth one.”

Following this reveal, the passenger seems surprised that he’s owned so many vehicles from the EV manufacturer in such a relatively short amount of time.

“Sixth?” he remarks, to which Rob replies with, “yeah.”

Presumably in an attempt to understand how a ride-share driver can afford so many Tesla vehicles, continues the discourse. “You keep trading up, or, what’s the deal?” Rob obliges him and explains why he has so many vehicles made by the popular automaker. “I rent them out to other Uber drivers right now. That’s the first part of my business plan,” he says.

Following this, Rob breaks down the second phase of his Tesla plan. And it involves fully autonomous driving and the subsequent profits he expects to make from this venture. “The second one is when these cars can drive themselves without me being behind the wheel or a human being behind the wheel, then I can put it on a Robotaxi network that Tesla just came out with in Austin,” he tells the passenger.

What Is Tesla Robotaxi?

Tesla launched thea Robotaxi program this year in the Texas capital city. It plans to expand nationwide. The fleet included about 20 Model Ys driving in one specific chunk of South Austin, offering $4.20 rides from 6am to midnight, per TechCrunch. They were manned with a driver acting as a supervisor.

Can I Generate Passive Income Renting My Tesla As a Robotaxi?

Not yet, but Musk has said this option will come sometime next year. Tesla’s Robotaxi pilot in Austin only uses company cars.

Tesla’s Robotaxi

Upon hearing Rob mention Tesla’s driver-less taxi network, the passenger seems impressed, calling the prospect of it “amazing.” Rob claims that the pilot program currently being tested in Austin, Texas “already is.”

Furthermore, Rob tells the driver that there are already examples online of Robotaxis in use. He does mention that the cars have a “precautionary” passenger riding in the front passenger’s seat for analytics purposes. Although he speculates that these ride-along testers will be gone “by the end of the year [2025].”

When that happens, Rob envisions a situation where there will be numerous Robotaxis carting folks around where there is no one else in the vehicle besides customers. However, the passenger did express some concerns surrounding inclement weather, but Rob shares that he doesn’t believe that will be a problem. He likens the autonomous driving system’s behaviors to that of a human being’s driving patterns. If there is inclement weather, Rob believes that the system will slow down and take the same precautions a living, breathing person would make while driving.

Financing Multiple Teslas

After brief lull in their conversation, the passenger then asked Rob if he had to wait long to get the Tesla they were currently riding in. Rob said that this wasn’t the case, telling the man that he was able to purchase and obtain the vehicle within the same day. He added that Tesla had reached out to him asking if he wanted to buy another one. Rob followed up with the email correspondence, stating that if he could finance another one with the other loans he was paying for, he certainly would. Ultimately, he was able to secure himself financing on a $58,000 car, with full self-driving included. After placing $5,000 down, a financier backed him in his venture and he was able to add a sixth Tesla to his arsenal that was capable of autonomous driving. Moreover, the interest rate on the loan was extremely low: Rob says he was able to nab a 1.99% APR. This astounds the passenger who states that Rob’s setup was basically a way for the Uber driver to print “free money.”

Rob agrees, before the passenger asks if the other drivers he rents the vehicles out to utilize the full-self driving capabilities he’s installed on the Teslas. According to Rob, they do and he goes on to say that he actually prefers full-self driving. In fact, he says he uses it 95% to 100% of the time. The only reason he’s inside of the car, he says, is to monitor the vehicle and sometimes assist his Tesla when going into parking garages or if he encounters a “complicated” area.

As he talks, it’s clear that his hands aren’t on the steering wheel. Additionally, his feet don’t appear to be interacting with the Tesla’s acceleration or brake pedals, either.

At this point, the passenger comments on the “pylons” decking the street while Rob is driving and asks if there’s any construction. Rob tells him that yes, there is some road work going on, as the Tesla deftly navigates through local traffic and makes a turn, with a corresponding signal, during their conversation. At the end of the clip, Rob says that his Tesla Uber driving is a “side hustle” but that he regularly puts in 16-hour days to generate income.

Commenters Sound Off

Folks who replied to Rob’s video expressed doubts about Tesla’s Robotaxi services in some areas. “Good luck putting a cat like [that] in San Bernadino,” one penned. Rob replied to the aforementioned user, stating that he believes Tesla “can get there.”

Another echoed the aforementioned sentiment stating, “Only in certain cities…and then liabilities are going to be crazy. Once they start getting into accidents, and they will.”

However, Rob explained that he’s already planned for potential accidents in his business plan. “Yeah, I have accounted for that having 1% accident rate that could potentially be the car’s fault. It’s in my model, but the likelihood of being hit by a human driver is more likely,” Rob responded.

Another person cautioned against relying on Tesla’s full-self-driving in the rain. They said that while driving their Tesla, their vehicle’s cameras were obstructed, necessitating manual control. “From my experience heavy rain can cause obstruction to the cameras,” the commenter wrote.

Rob conceded that this was the case with earlier models, however, newer cars didn’t present this issue to him. “Yes, heavy rain can. It hasn’t happened to me yet in my new MY. There was a monsoon here and handled it with no issues,” he responded.

Robotaxi Woes

InsideEVs has previously reported on safety concerns expressed with Robotaxi, calling the service’s initial test run in Austin “often erratic, unpredictable and inconsistent.” A YouTuber who documented her experience inside of a Robotaxi also recorded the car slamming on the brakes “about 10 minutes into her video, launching her smartphone onto the floor.” It’s an experience she says she’s experienced in full-self driving vehicles before. Presumably the sudden stop occurred because the Tesla’s autonomous driving functionality believed that there was something in the road despite there being no visible obstruction in front of her.

Furthermore, the National Highway Traffic Safety Administration is purportedly inquiring into the Robotaxi service to ensure it can effectively transport passengers without a driver manned behind the wheel.

InsideEVs has reached out to Rob via TikTok comment for further information.

 

 



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