Morgan Stanley estimates around 50,000 Tesla vehicles currently on Uber platform

Analyzing data pulled from Uber‘s (UBER) Climate report from April 2024, Morgan Stanley estimates that the data implies “on the order” of 50,000 Tesla (TSLA) vehicles currently on the Uber platform. Ahead of next week’s “We, Robot” event in Los Angeles, the analyst says he feels “investors’ sense of anxiety around the topic of autonomous ride-share services.” At the October 10 event, most expect that attendees will be shown and given rides in a “cybercab” on a closed course and potential initial commercial introduction could be late 2025 or 2026. It is the firm’s expectation that Tesla will offer a “dual” approach with respect to autonomous ridesharing: with both the fully autonomous app-based cybercab and a “supervised” autonomous/FSD rideshare service, says the analyst, who thinks “the latter of these may get the most attention or have the greatest room to surprise investors.” Morgan Stanley keeps an Overweight rating and $310 price target on Tesla shares.