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Tesla Ditched Robotaxi Lease Plan, Sold Returned Vehicles for Profit Instead

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Tesla quietly ended a years-long policy that blocked U.S. customers from buying their leased vehicles, a policy originally justified by CEO Elon Musk’s 2019 claim that returned cars would be used in the company’s upcoming “robotaxi” network. The autonomous fleet never materialized — and instead, Tesla flipped many of the off-lease vehicles for profit through resale, according to a Reuters investigation citing multiple sources familiar with Tesla’s retail operations.

Background: The Robotaxi Promise

In 2019, Musk publicly stated that Tesla would not allow lease buyouts because it needed the vehicles back for its planned fleet of self-driving robotaxis, claiming:

“Next year, for sure, we’ll have over 1 million robotaxis on the road.”
This never happened. Instead, Tesla:

  • Upgraded returned cars with high-margin software features like “Full Self-Driving” ($8,000–$15,000) and “acceleration boost” ($2,000)

  • Resold them to new customers at higher prices than lease-end buyouts would have yielded

  • Blocked lessees from buying vehicles for years, citing the robotaxi plan that never materialized

Lease Policy Reversal

On November 27, 2023, Tesla quietly reversed the policy. A post from its North America X account (formerly Twitter) announced that “Lease buyout now available” for new contracts. Its website was also updated to reflect that leased cars “may be eligible for purchase” — a major shift after years of denying customers that right.

Legal but Misleading

While Tesla’s no-buyout lease terms were likely legal, critics argue they were deceptive, especially given Tesla’s continued robotaxi narrative. Many lessees were led to believe their cars were headed for autonomy, only to discover they were sold in secondary markets.

  • Joe Mendenhall, a lessee from Indiana, was told multiple times his Model Y was bound for robotaxi duty. He later learned it was auctioned off:

“Lies about not being able to buy out my lease,” he posted.

  • Another customer, Marshall Distel, expressed regret over his association with Musk, saying:

“I love the car, I just don’t like what has been going on at the top with the CEO.”

Business Strategy Masked by Autonomy Claims

Tesla’s strategy of reselling off-lease cars at inflated prices was financially lucrative — especially when used car prices soared during the pandemic. However, now that demand has cooled and used Tesla prices are plummeting, the company appears to have changed course.

  • Tesla vehicles now depreciate faster than most EVs, with used Model Y prices falling 14.1% and Cybertruck prices plunging 46% over the last year, according to CarGurus.

  • During the January earnings call, Tesla CFO Vaibhav Taneja acknowledged “lower profit from used car business” as a reason for margin decline.

Investor Illusion

The robotaxi story also helped sustain investor confidence — contributing to Tesla’s high stock valuation despite lack of profitability from full autonomy. Firms like Ark Investment cited Tesla’s off-lease fleet as a potential base for an autonomous ride-hailing service, a belief now shown to be based on unfulfilled assumptions.

Conclusion

Tesla’s abandoned robotaxi lease plan reflects a broader pattern of overpromising and underdelivering on autonomous driving, while capitalizing on consumer and investor expectations. As the company faces softening demand, depreciating assets, and growing political backlash, its strategic pivots — and past missteps — are drawing renewed scrutiny.

Aeva Sells 6% Stake for $50M and Inks Manufacturing Deal, Shares Rise 3%

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Aeva Technologies, a Silicon Valley-based lidar sensor maker founded by ex-Apple engineers, announced on Wednesday that it has sold a 6% equity stake for $50 million to an unnamed strategic partner. The partner—described only as a technology-focused affiliate of a Global Fortune 500 company—will also take on future manufacturing responsibilities for Aeva’s passenger vehicle sensor production.

The announcement boosted Aeva’s stock by 3%, signaling investor optimism around the new cash injection and potential production scalability.

🔍 About Aeva’s Technology

  • Aeva develops lidar (light detection and ranging) sensors that offer 3D mapping capabilities for autonomous vehicles and industrial automation.

  • Unique to Aeva’s sensors is the ability to measure velocity, not just distance, enabling systems to differentiate between moving and stationary objects—critical for autonomous driving and factory robotics.

🤝 Strategic Manufacturing Partnership

  • The unnamed partner will support sensor production for passenger vehicles, suggesting a scaled manufacturing plan to meet automotive industry demand.

  • While not confirmed, the deal could accelerate Aeva’s entry into commercial automotive fleets, expanding beyond its current testing and pilot phases.

🚗 Existing Industry Collaborations

Aeva already has:

  • A partnership with Daimler Truck AG for autonomous driving.

  • Sensor applications in Japanese and German manufacturing firms to detect defects in fast-moving production lines.

💼 Financial Implications and Outlook

  • The $50 million stake sale gives Aeva additional runway as it gears up for broader deployment and earnings season.

  • The company was scheduled to report quarterly results after Wednesday’s market close, which could further illuminate growth strategy and customer traction.

This move aligns Aeva with an influential manufacturing player, potentially increasing its supply chain resilience and giving it the edge to compete in the intensifying lidar and autonomous tech markets.

Waymo Recalls 1,200 Self-Driving Vehicles Over Barrier Collision Risks

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Waymo, Alphabet’s autonomous vehicle division, is recalling 1,212 self-driving vehicles in the U.S. to fix a software issue that led to minor collisions with chains, gates, and other stationary barriers, the company disclosed on Wednesday.

The recall follows a National Highway Traffic Safety Administration (NHTSA) probe initiated in May 2024, investigating reports that Waymo’s robotaxis had engaged in unsafe driving behaviors and failed to avoid clearly visible objects.

Key Details of the Recall:

  • Number of vehicles affected: 1,212 running the fifth-generation automated driving system.

  • Issue: Software misinterpretation of fixed road barriers, such as chains, poles, and gates.

  • Known incidents: 16 minor collisions (2022–late 2024), no injuries reported.

  • Resolution: A software update initiated in November 2024 and fully deployed by December.

  • Total Waymo fleet: Over 1,500 vehicles currently active in San Francisco, Los Angeles, Phoenix, and Austin.

  • Expansion plans: Services launching soon in Atlanta, Miami, and Washington, D.C.

“Our record of reducing injuries over tens of millions of fully autonomous miles driven shows our technology is making roads safer,” Waymo said.

Ongoing Scrutiny

  • The NHTSA investigation remains open, focusing on multiple incidents where Waymo vehicles collided with obvious obstacles that a human driver would typically avoid.

  • In a similar trend, self-driving rivals like GM’s Cruise and Amazon’s Zoox have also been hit with recalls:

    • Cruise was penalized after a serious pedestrian injury in 2023, prompting GM to slash funding.

    • Zoox recalled 270 vehicles last week after a Las Vegas crash involving an unoccupied robotaxi.

Waymo’s Recent Recall History

  • February 2024: 444 vehicles recalled due to faulty predictions of towed vehicle movement.

  • June 2024: 670+ vehicles recalled after a collision with a wooden utility pole in Phoenix.

Despite the recent setbacks, Alphabet shares rose 4% on Wednesday, as investors focused on the broader AI and mobility potential of Waymo.

The recall underscores both the promise and fragility of autonomous driving technology, as companies balance innovation with public safety and regulatory compliance in increasingly complex urban environments.