Last week, Tesla held an event in Austin introducing the two-seat, purpose-built Cybercab to its Robotaxi fleet, and then the following evening commercialized its first rides. Tesla disclosed that, in just six weeks, the Robotaxi fleet increased its unsupervised driving miles 2.6x, from the 380,000 reported during Tesla’s second-quarter earnings call to one million miles. On its site, Tesla posted a “Robotaxi interest form” aimed at commercial fleet buyers, asking respondents to flag interest in purchasing a Cybercab fleet. As ARK outlined in Big Ideas 2026, fleet owners are an important component of the robotaxi value chain. The Cybercab is central to scaling Tesla’s robotaxi service at competitive prices and, in ARK’s view, to expanding autonomous ride-hail into a multi-trillion-dollar opportunity. At scale, we project that robotaxis could be priced as low as $0.25 per mile—approximately one-tenth the cost of human-driven ride-hail, as shown below, and roughly one-third the cost of personal car ownership. @TashaARK details more in this week's newsletter ⬇️(ARK Invest)