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Tesla’s autonomous taxi service, which could receive a big unveiling next Monday, could help pay back the cost of an electric car in just five years. Analysis suggests that the Model 3, the company’s cheapest vehicle that starts at $35,000, could earn thousands of dollars for its owner by joining the upcoming fleet of self-driving vehicles.
ARK previously shared analysis in October 2016 that showed during the first year of ownership, an owner that shared their car for one and a half hours per day would see a positive cash flow of $10,000. This factors in a $7,000 down payment on the car, and assumes a taxi rate of $2.50 per mile — the stated cost of an UberX in San Francisco at the time of the report’s publication. The analysis firm goes as far as to state that “anyone with the credit to lease the vehicle could more than pay for it in the first year and generate revenue for the duration of its lease.”
