Tesla plans to start self-driven cab-hailing service by 2020

Tesla might be planning to launch the first robotaxis with an aim to expand the autonomous ride-hailing network in 2020, said CEO Elon Musk during Tesla's Autonomy Day. "I feel very confident predicting that there will be autonomous robotaxis from Tesla next year - not in all jurisdictions because we won't have regulatory approval everywhere," he said.

Musk, however, didn't detail what regulation he was referring to. He said he's pretty confident the company will get the regulatory approval sometime in 2020. Tesla will also allow owners to add their vehicles to the new service, which is similar to the business model Uber and Airbnb follow.

Tesla will take 25-30 percent of the revenue generated from those rides, Musk said. In areas where there aren't a lot of shared cars, Tesla will have its own fleet of robotaxis. Musk also revealed that all the Tesla vehicles are now produced with an integrated self-driving chip.

The chip is touted as the world's best and will fulfill the hardware requirements for a self-driving car. The remaining step is the software, which Musk says will be "feature complete."

"From our standpoint, if you fast forward a year, maybe a year and three months, but next year for sure, we'll have over a million robotaxis on the road," Musk said. "The fleet wakes up with an over the air update; that's all it takes."

Well, Elon Musk has already made all the Tesla patents public to help carmakers make more fuel-efficient cars. In a blog post, the billionaire said that the company "will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology."