Robotaxi Reveal on 8th August; No More Low-Cost Car
$Tesla (TSLA.US)$ Elon Musk has just announced an unveiled date of August 8 for Tesla's long-discussed robotaxi project, sparking investor interest amidst concerns over the company's slowing growth. This announcement, shared via a post on X, led to a more than 3% rise in Tesla shares in extended trading.
Elon’s announcement comes amid reports that plans for Tesla’s much-anticipated low-cost car model were canceled, but it was then debunked by Elon himself.
For years, Elon has been vocal about Tesla achieving full autonomy, with promises dating back to 2015 of Tesla cars reaching "full autonomy" within three years and plans for a cross-country autonomous drive by the end of 2017—goals that remain unmet. Currently, Tesla offers advanced driver assistance systems (ADAS) including Autopilot and the Full Self-Driving (FSD) option, which, despite its name, still requires driver supervision.
The promise of a fully autonomous vehicle has been a crucial aspect of Tesla's high market valuation since 2019. Tesla has been updating its Full Self-Driving (FSD) software, marketed to consumers as part of its drive toward autonomy. The next-generation vehicle platform, as discussed by Tesla, is expected to feature both a more affordable car model and a dedicated robotaxi. However, despite previous hints, prototypes for these vehicles have yet to be presented, with Musk's recent announcement suggesting the robotaxi is now being prioritized.
The autonomous vehicle market has seen its share of challenges, highlighted by Apple's recent shutdown of its self-driving unit and the regulatory scrutiny faced by GM’s Cruise service following an accident. These developments underline the complexities and regulatory hurdles in commercializing autonomous driving technology.
Tesla's history of unveil dates not aligning closely with commercial release timelines, such as the Semi truck's unveiling in 2017 and its delivery commencement in late 2022, suggests that the robotaxi's actual market introduction could still be some time away. Nonetheless, Elon's recent directive for sales and service staff to install and demo the FSD system underscores his commitment to advancing Tesla's autonomous driving capabilities.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
- YouTube finance content creator (>70k subs)
- Specializes in US stock and ETF investments
- Huge fan of Tech companies
29KFollowers
5Following
55KVisitors
Follow
Julia G M : Only that he did not tell us which year
ZnWC : This announcement is made amid Tesla just released data that the FSD, the AI software has broken the 1 billion-mile milestone. Post market rose 3.81% after the news. Let's see how the stock will perform on Monday.
Elon Musk says Tesla will unveil robotaxi in August
https://www.moomoo.com/community/feed/112223541460998?share_code=00Qcgk
ee mei : may i know who is collecting income from robotaxi. owner of robotaxi or tesla
Ziet Invests OP Julia G M : haha!
Now = 6 months later
6 months later = 2 years later
2 years later = 5 years later xD
Ziet Invests OP ee mei : If Tesla is licensing it to other car companies, then Tesla will be benefiting from the licensing fees.
Then the operating companies like Lyft will then collect the usual taxi fare from customers
Julia G M Ziet Invests OP : We shall be here to watch the time-line. August isn't that far away
MonkeyGee : robotaxi is just a dream without XNGP!
102502703 : I see this as a transfer of money making capability. Going to deprive income from full time drivers..
Julia G M : Have you seen the news today about Robotaxis being delayed? I told you dude didn't tell us which year he was talking about hahaa he just said August