How Waymo and Tesla print
Robotaxi rides, still small against Alphabet. The product is the mile without a driver.
Cars first. Energy growing. FSD and robotaxis are the option.
The mix
Hover a slice
- Ride revenue40%—
- Parent / other60%—
- Automotive—80%
- Energy—12%
- Services / other—8%
- WaymoTesla
Waymo
A subsidiary. The bill is paid by Alphabet until the ride scale works.
Pays: Riders in the cities that are live. Alphabet in the meantime.
Builds: AV research, ops, and the people who keep the fleet on the road.
Tesla
The factory is the product. Autopilot and Optimus are the story on top.
Pays: Car buyers. Energy customers. Future robotaxi riders.
Builds: Vehicle, Autopilot, energy, Optimus. A lot of manufacturing IC.