On July 6, Morgan Stanley analysts pointed out that robotaxis may evolve into a distributed mobility network rather than being limited to centralized deployment. It is estimated that by 2035, the global robotaxi fleet will reach approximately 2.5 million vehicles, creating a trillion-dollar market opportunity by 2040. Unit economics are expected to achieve break-even by 2028 and enter large-scale operations by 2030. Currently, the global robotaxi industry is transitioning from limited pilot programs to early commercialization. Advances in artificial intelligence, declining hardware costs, and a clearer regulatory environment are driving accelerated deployment, with some operators already achieving 24/7 fully driverless services in select cities. Investor focus has shifted from technical feasibility to identifying participants capable of efficiently and profitably achieving scale.