Tesla Stock Rises 1% After It Starts Long-Awaited Robotaxi Service

Tiger Newspress06-23

Tesla rolled out its long-promised driverless taxi service to a handful of riders Sunday, a modest debut for what Elon Musk sees as a transformative new business line.

The shares rose 1.4% in premarket trading on Monday.

The first robotaxi trips were limited to a narrow portion of Tesla’s hometown of Austin, with an employee in each vehicle keeping tabs on the operations. The carmaker hand-picked a friendly crop of initial riders, which featured investors and social-media influencers who live-streamed their trips.

In one video, Herbert Ong, who runs a fan account, marveled over the speed of the vehicle and the ability to park autonomously. Another influencer with the @BLKMDL3 handle on X said the trip was “smoother than a human driver.” Sawyer Merritt, a Tesla investor who runs an account focused on the company, called the experience “awesome.”

With no kickoff event and little in the way of formal announcements, Tesla has relied largely on word of mouth and media coverage ahead of the robotaxi launch, which comes about a decade after Musk began talking about the possibility. The unveiling was uncharacteristically low-key for a company that held a “Cyber Rodeo” to mark a Texas factory opening in 2022 and an invite-only party near Hollywood last year to unveil autonomous products.

Musk is reorienting the carmaker around hyped-but-still-unproven technologies including self-driving vehicles and humanoid robots. Some investors are counting on new markets to revive Tesla following a sales slump and consumer backlash against the chief executive officer. Its shares have tumbled 20% this year.

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Comments

  • a4xrbj1
    06-23
    a4xrbj1
    So how is this going to scale? Tesla uses > 1 employee (1 on the passenger seat of each Robotaxi and unknown number of Teleoperators in back office) to drive around a small geofenced area of Austin. Inviting only stock pumpers. People that hate Elon for his fascist behavior won't buy Tesla products and also won't pay for a ride. Why would you risk your life? If you need to, take an Uber with a human driver or Waymo with no deadly accident vs Tesla's recorded 54 deaths on Autopilot including 2 with FSD enabled. This things isn't flying. All the whole Waymo, Zoox, Baidu, WeRide and many others are expanding their safer autonomous rides with LiDAR and Radar.
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