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The Future of Ride Sharing and Ride Hailing Industry After Covid-19
The Future Of Ride-Hailing and Ride Sharing Business After Covid-19
Before the beginning of this dangerous COVID-19 spread, the ride-hailing business companies like Uber and Ola are ready to start their long journey towards a fast success path. Uber India, announced that it has decided to lay off around 600 full-time employees in the month of May, due to the pandemic. After overcoming this situation, uber found its mojo back. The food delivery services by uber helped the most to remain so.
Will these ride-hailing companies find a way to come stronger when the pandemic ends?
Of course, the ride-hailing companies will come back stronger in a few months as the situation is going back to normalcy. The situation started returning to a new normal, rides have also started returning in some cities with new safety measures. But the economy before COVID-19 is still too far away. But even after the pandemic, taxis will be more prepared by the people than ridesharing. But still, the signs show the recovery of the ride-hailing industry. Recently a survey was made with 8000 participants who are spread across seven countries. According to it, 45% of the participants voted to safety their top priority.
Now as a unique innovation, Tesla has rolled out with robotaxis in the future. For the entrepreneurs who would like to launch a future-gen taxi app, the dice is ready for them. In this blog, let us discuss Tesla's robotaxi network and the future of ride-hailing business mod COVID-19.
Tesla Plans To Launch A Robotaxi Network- What's the Idea Around Tesla’s Announcement?
Elon Musk, is an engineer, industrial designer, technology entrepreneur, and philanthropist who formed SpaceX to Tesla. In 2019 he confidently stated that there will be autonomous robotaxis from Tesla by next year. There is a huge evolution in the multi-trillion-dollar Mobility as a Service(Maas) market. Due to the COVID-19 pandemic, the need for autonomous vehicles is increasing.
In 2016, Elon Musk explained the idea of robotaxi network naming “Master Plan, part Deux”. The concept was very simple. It was to establish an automated version of Uber, where the tesla car owners can get revenue by their cars by sharing the automated rides during work or vacation. On April 23, 2019, Test celebrated its Autonomy Investors Day. There Elon delivered a brief speech about self-driving cars. And also he mentioned that Tesla is bringing its ride-sharing app into use. This app lets the car owners of the Tesla network share their cars and get income. The CEO also said that the world can expect one million robotaxis by the end of 2020.
Three-Step Strategy of Elon Musk
Due to this pandemic, it became very necessary for private vehicles as it eliminates the need for drivers from the taxi ecosystem. To make it possible, Elon's ‘Hyperloop’ concept has arrived with just a three-step strategy.
1. Self-Driving Software with Driver’s Supervision
The initial step is to build a feature-rich self-driving software. The first aim for that software is to move the taxi from A to B point without human mediation. In other words, this is an upgraded model of the Existing Autopilot system. Tesla’s cars are built with a huge variety of sensors. These sensors include forward-facing radars and cameras, a hardware unit consists of chips that help in the entire self-driving process.
2. Taxi Services with Driver’s Supervision
The second way is the introduction of an on-demand taxi app, where the car owners can provide their free timings in the application and by seeing the timings the passengers can make use of the services. To get relaxed, They are expecting the drivers to watch the complete process in the starting stage. So during this stage, Tesla will step into the ride-hailing industry competing against Uber, Lyft, etc.
3. Take Out Drivers from the System
Taking out drivers from the system is the final step in the strategy. This is not that easy task to do and involves many regulatory frameworks. It can be a breakout in the automobile and transportation industry with the introduction of robotic taxis.
Advantages of Robotic Taxis
The robotic ride-hailing industry comes with huge benefits. Any inventions without advantages will fail to get attention from the people.
Few advantages are here,
- In 2026, with a financial Tesla model, the robotaxi network will grow to a number of 2.75 million and generates $92 billion.
- A robotaxi can generate a gross profit of $30,000 per year.
- The car’s lastingness is 11 years higher than the fuel-led fleets.
Changes made by COVID-19 in the Taxi Dynamics
Almost all the top industries have faced a heavy loss during the pandemic. Due to the lockdown norms, the taxi industry has come to a halt and also there no demand for taxis. As a precaution people started thinking that it is not safe for using the public transportation facilities and also experienced a 60-70% decline in sales.
The recent report by McKinsey & Company spotlights on the increasing demand for private vehicles among people. 81% of the participants picked private rides rather than carpooling or public vehicles. Safety has become the foremost importance. For the first time, the industry boss uber is experiencing a downfall, this is the right time for the entrepreneurs to enter this industry and capitalize on this situation.
First Step To Complete Automation
One of the recent market holders in the transportation industry is E-Scooters. Here also the driver’s role is cut off. The drivers pick up the vehicles, scan the code, start the ride, and reach the destination and park the vehicle in the parking slot and complete the ride. The next person who wants to take a ride in that destination will pick up the scooter.
The same concept can be used for taxis. The Uber Clone App makes this self-driving method more accessible, economical, and reliable. Tesla’s super place can be the future. Nut it takes some time to make it happen. Establishing your ride-hailing business with the Uber Clone Script at this moment will be more logical and profitable. In the future, very vehicles will shift from fuel-led to the electric power-led. This is inevitable. Are you the entrepreneur that the world awaits?
You are having an idea and we have the resources to make it into reality. You will definitely need an on-demand app development company partner like Startupmart to bring ou your ideas as an online platform. We are one step ahead. Contact for getting your Uber Clone Script and Start your ride-hailing business.
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Muthu Priya is a enthusiastic Digital Marketing Executive who has strong background on-demand mobile app marketing, performance-driven habits and forward-thinking creativity to all programs she oversees. She writes about mobile app technologies, Startups, Industires. Stay in touch with the blog updates at Startupmart to know the trends of On-Demand Industry.