While Tesla focuses on its robotaxi launch, Rivian is looking to take hands off the wheel and eyes off the road while enabling drivers to chat with the car.

While the initial testing will use Tesla's own fleet of cars, regular customers may be able to add their cars to the ride-hailing fleet next year, Musk says.

Tesla reported disappointing fourth-quarter earnings for 2024, with revenue of $25.7billion (£20.6billion) falling short of Wall Street analysts' predictions of $27.2billion (£21.8billion). The electric vehicle maker's shares dropped approximately four per cent in after-hours trading following the announcement on Wednesday.

With Tesla set to release its latest quarterly earnings report, Wall Street thinks the stock can keep rising on a "golden age" for automation and AI.

Tesla's fourth-quarter and full-year earnings day is here — a highly anticipated report that is expected to be released after market close Wednesday.