Tesla might be considering releasing its own ride-sharing service

There’s been speculation that Tesla will be entering the ride-sharing market for a while, if not directly, then by selling its cars to existing ride-sharing companies. Uber’s CEO even said his company would buy half a million cars from Tesla if they were autonomous, and Tesla claims that they will be in a bout three years or so. That being said, Elon Musk recently hinted at the possibility of Tesla entering the ride-sharing market directly with its own service, saying that “There is a right time to make announcements and this is not that time.”

Tesla CEO Elon Musk seemingly confirmed on Tuesday that the company is working on a strategy for getting into transportation services. During Tesla’s third-quarter earnings conference call, Musk was asked if the company was planning to get into an Uber-like business. Musk tried to keep mum, but when pressed he hinted that the company was at least entertaining the idea. “There is a right time to make announcements and this is not that time,” Musk said during the call. He added that the strategy for such a service was not yet “fully-baked,” which implies the company does in fact have some semblance of a strategy. Last quarter during its earnings call, Musk was also asked about its potential plans for a ride-sharing business or if it would someday sell its cars to mobility companies like Uber. But Musk declined to comment. Tesla, of course, would not have to necessarily launch its own ride-sharing service to make a play in the space. The company could opt to sell its vehicles to companies like Uber that already offer rides on demand. Last July, Uber CEO Travis Kalanick said that he would buy half a million cars from Tesla if they were autonomous. Since then, Musk has said that the company will have its self-driving cars ready in about three years.