Tesla will reveal its long-promised robotaxi on August 8th, Elon Musk just posted on X. The forthcoming autonomous vehicle is said to be built on Tesla’s next-generation vehicle platform.

The announcement came on the same day that Reuters reported that the company had canceled its plans to build a more affordably priced electric vehicle, said to be in the range of $25,000. Musk reportedly told employees that instead of building a mass-market EV, he wanted to focus completely on an autonomous vehicle that would make other vehicles obsolete.

Musk has long teased the possibility of a Tesla robotaxi, even showing off a completely covered vehicle during a 2023 event unveiling the company’s third Master Plan. Years earlier, he speculated that Tesla owners would be able to earn revenue from their autonomous cars by sending them out to pick up and drop off passengers.

This would be the so-called “Tesla Network,” as described in Musk’s Master Plan Part Deux. “You will also be able to add your car to the Tesla shared fleet just by tapping a button on the Tesla phone app,” he wrote, “and have it generate income for you while you’re at work or on vacation, significantly offsetting and at times potentially exceeding the monthly loan or lease cost.”

Musk has long teased the possibility of a Tesla robotaxi, even showing off a completely covered vehicle during a 2023 event unveiling the company’s third Master Plan. Years earlier, he speculated that Tesla owners would be able to earn revenue from their autonomous cars by sending them out to pick up and drop off passengers.

This would be the so-called “Tesla Network,” as described in Musk’s Master Plan Part Deux. “You will also be able to add your car to the Tesla shared fleet just by tapping a button on the Tesla phone app,” he wrote, “and have it generate income for you while you’re at work or on vacation, significantly offsetting and at times potentially exceeding the monthly loan or lease cost.”

According to theverge.com.