The unveiling of Tesla’s Robotaxi, initially scheduled for August 8th, has been postponed to October. Despite reports of the delay, Tesla has not confirmed the change, leading to a sharp decline in Tesla’s stock, which plummeted by more than 8% – its most significant drop since January 22nd.
On the 11th, US media reported the delay, attributing it to Tesla’s need to give the project team additional time to develop the test model.
The Robotaxi unveiling was expected to be a pivotal moment for Tesla, signifying a significant advancement toward commercializing autonomous vehicles. Following disappointing A1 results in April, Tesla heavily promoted the Robotaxi. Musk stressed to shareholders that Tesla is a company dedicated to developing a Robotaxi and unmanned transportation network that can make money for its owners.
Musk asserted during a conference call, “If you don’t believe that Tesla can solve the autonomous driving problem, you shouldn’t be an investor in Tesla.”
The postponement of this critical event to October caused Tesla’s stock to drop 8.44%, closing at $241.03, marking a return to negative annual growth.
With the unveiling delayed, the production and commercialization of the Robotaxi are expected to take a considerable amount of time. For instance, Tesla’s large electric truck, Semi, was first unveiled in 2017, but actual production did not start until October 2022.
The upcoming Robotaxi is designed for full autonomy, lacking a steering wheel, accelerator pedal, or brakes. Tesla vehicle owners can register their vehicles as Robotaxis and earn money during their idle time. The Robotaxi will be manufactured by combining Tesla’s latest autonomous driving software and manufacturing technology.
