Tesla Taxi, the first Queensland-based peer-to-peer car sharing platform with a 100% BEV (Battery Electric Vehicle) fleet – and the newest members of Avestix Lab.
Based on the largely successful electric car company, Tesla, Tesla Taxi are inviting Tesla vehicle owners to invest in the platform by adding their Tesla vehicles to the network, and be a part of the next generation of peer-to-peer car sharing.
Electric cars have been a hot topic throughout the world in recent years, and no matter what side of the fence you sit, the car industry will continue to be disrupted by advancements in this technology.
We’ve seen Airbnb disrupt the hotel and accommodation sector, Alibaba revolutionise the retail and manufacturing industry, Tesla innovate the car industry, and Uber transform the taxi service. Tesla Taxi have set out to combine what Tesla and Uber have disrupted in their respective industries, and offer a solution for car owners and car sharing users alike.
“Electric cars are a technology that has arrived and is truly the technology for the future” – Australia’s Chief Scientist, Alan Finkel.
The real heart of Tesla Taxi’s offering is their fleet of Tesla vehicles. As a buyer of any Tesla vehicle knows, owning a Tesla doesn’t quite follow the same principles of car ownership as a regular vehicle.
On average, new vehicles depreciate by 19% during their first year on the road, and it’s standard to expect a further drop of 15% in the second and third years. However, not all vehicles depreciate at the same rate.
Tesla vehicles holds more than 70% of their value after three years (95% for the new Model 3). Compare this to the Toyota Camry, which is worth approximately 45% of its purchase value after three years.
Tesla Taxi firmly believes that your Tesla vehicle can be classed as an asset and not a depreciating asset:
“This is because Tesla own 99% of the Full Self Drive data and the current fleet of Tesla vehicles on the road are continuously gathering this data and expanding their ‘neural network of autonomous driving’ (in other words: Artificial Intelligence).
Furthermore, with the release of the Model 3 at a starting price of $35,000 USD, this means more cars on the road equates to a faster rate of data collection.
In summary, when the vehicle has the ability to earn income. By definition it becomes an asset. An Item of property (the car) owned by a person or company (YOU or TESLA) regarded as having value (95%+ of purchase cost) is available (to the taxi fleet) to meet debt (earn $30k net profit per year to pay back the vehicle purchase loan).”
Tesla Taxi further illustrates its methods to cover 150% of the loan payments for vehicles who join the network:
“Buying a Tesla M3 is a ‘no lose’ investment, you can rent the car for more than its payments and you will pay more to buy the car in 2-years time that you can pay to get it now. Also, the fact that in 2023 you will then be able to let the ‘Tesla Network’ turn your car into a ‘robo-taxi’ to generate $35,000~$60,000-AUD NET-Profits for more than 8-years ‘left’ in life of the 12- year, 1.5M KM life span of the car.
Basic maths (TCO/TPO[Total Profit of Ownership]); Loan cost $280 per week, Net profit to rent car for only 50% of days: $150 per week for years 0~5 (net 52x $150 = $7,800 profit per year), then, for years 6~12, your profits will be ~$45,000 per year (or 7x $45k = $315,000).
So, 5x $7,800 = $39,000 + $315,000 == $354,000-AUD over 12-years – or $29,500 PER YEAR! (all AFTER paying the costs to buy and run the car) – to put it more simply, if you have a $60k PA job and you buy 2x M3 ($1500 each total ‘up-front cost’) – then, if you say just $20,000 PA profit per car, your $60k ‘job’ instantly becomes a $100K-PA job for only adding 2~3HRs per week to your ‘work load’ to self manage your rentals per week.”
What about the other side of the business – the ride sharing users?
On Tesla Taxi’s website, you can rent either a Model 3, Model S or Model X. Prices start from $99 per day for the Model 3, $169 per day for the Model S, and $199 per day for the Model X. All prices are based on a four-day minimum booking.
For single days, you can expect to pay $239 for the Model 3 ‘sports’, $249 for the Model S ‘P85’, and $359 for the Model X ‘P100D’.
For a minimum of two days, the prices are $180 ‘AWD’ for the Model 3, $220 ‘75D’ for the Model S, and $275 ‘75D’ for the Model X.
Tesla Taxi are definitely at an early-stage of potentially reaping the rewards of exponential growth in upcoming years. They can anticipate the likelihood of competitors in their space, but with their ‘first to market’ approach they aim to be the leaders of peer-to-peer electric car sharing.
The company aims to duplicate its Australian service internationally by 2023, and aims to have a low environmental impact whilst driving the transition to sustainable transportation. Tesla Taxi’s day rental fees currently include 110% green energy/carbon credits.
Avestix Lab continues to be Brisbane’s hub for startups who are dedicated to develop revolutionary solutions through artificial intelligence, big data, the Internet of Things, AR/VR, blockchain and cryptocurrency.