Tesla offers a sneak peek of its forthcoming robotaxi ride-hailing app prior to the unveiling in August.

Tesla and its CEO Elon Musk have provided new details about their highly anticipated autonomous ride-hailing service. Similar to Uber, riders will be able to summon driverless vehicles using a Tesla app. During a recent earnings presentation, Tesla showcased a preview of the app, demonstrating features such as summoning a vehicle, setting the temperature, tracking its location, and selecting music. The company has long been teasing the mass rollout of robotaxis, with Musk previously stating that he was confident they would be operational by 2020. Tesla owners will have the option to rent out their vehicles for rides, with Tesla taking a portion of the revenue. Musk explained that the program will operate like a combination of Airbnb and Uber, with Tesla managing the main fleet and end-users owning a number of cars. The initial fleet is expected to consist of around 7 million vehicles, potentially growing to tens of millions in the future. Tesla plans to unveil its purpose-built robotaxi, referred to as “Cybercab,” in August. In other news, Tesla’s latest earnings report revealed that the company has not made any changes to its Bitcoin holdings for the seventh consecutive quarter. Despite missing analyst expectations and experiencing a significant drop in revenue, Tesla’s shares jumped 13% in after-hours trading.