Elon Musk Says Tesla Will Unveil Robotaxi in Augus Here’s What You Need To Know
Tesla (TSLA) CEO Elon Musk took to his social media platform X Friday to advertise that the electric vehicle (EV) maker will unveil its long-awaited robotaxi on Aug. 8, posting “Tesla Robotaxi unveil on 8/8.”
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Shares of Tesla surged nearly 4 to $171.19 in extended trading Friday following the advertisement, after sinking 3.6 during the regular session.
The advertisement came just hours after Elon Musk denied a report that the EV maker was canceling plans to make a lower-priced auto, and would concentrate on an independent vehicle that would render other vehicles obsolete.
What Is Tesla’s Robotaxi?
The robotaxi is a coming-generation tone-driving vehicle that Musk said at an investor event in 2019 could one day allow possessors to make plutocrats by renting their vehicles out by operating an independent hack service, in which the company would also take a commission.
Robotaxi Plans Hit by Detainments
still, Musk’s plans for a robotaxis have been hit with detainments, with the company suggesting in 2019 that robotaxis would be operating by 2020. “The only review and it’s a fair one, occasionally I’m not on time,” Musk reportedly said.
Regulatory Headwinds
A possible tailwind for Tesla and its robotaxi could be satisfying controllers that its tone-driving technology is safe. The company was forced to recall thousands of vehicles last time, after the National Highway Traffic Safety Administration (NHTSA) said Tesla’s Full tone-Driving (FSD) Beta software could cause Tesla buses to “exceed speed limits” or travel in an “unsafe” manner. or “changeable” manner.
A tough launch to 2024
Tesla has had a rough launch to 2024 amid sluggish demand and violent competition, with shares losing about one-third of their value since the time began.
earlier in the week, Tesla reported its first-quarter deliveries dropped 8.5 from a time ago, transferring shares tumbling after the release. Tesla criticized the decline in volumes in part on plant shutdowns as a result of the Red Sea conflict and a wildfire attack at Tesla’s Berlin Gigafactory.
Last month, judges at Wells Fargo called Tesla “a growth company with no growth,” while some other judges have suggested the recent selloff was overdrawn.
