Tesla (NASDAQ:TSLA) stock is steering into the future – quite literally. On June 22, the company officially launched its much-anticipated robotaxi service in Austin. Tesla began using Model Y vehicles equipped with autonomous driving technology to transport select invite-only passengers around predefined neighborhoods at a playful flat fee of $4.20 per ride. For now, however, each vehicle still includes a safety monitor seated in the front passenger seat, providing an additional layer of supervision and reassurance during these autonomous trips.
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It wasn’t long before Tesla took its next leap forward: on June 27, the company completed its first fully autonomous vehicle delivery. Imagine a Model Y quietly departing Tesla’s Gigafactory, cruising effortlessly through Austin’s streets, and parking itself in the customer’s driveway without a single human intervention – that’s exactly what happened.
Furthermore, the company announced plans last week to ramp up its robotaxi operation in Austin by adding more vehicles and expanding service coverage. As the system matures and local regulations allow, Tesla aims to phase out the in-car safety monitors altogether, ushering in a truly driverless passenger experience.
Looking further ahead, Tesla is already sketching out the next generation of autonomous ride-sharing. In 2026, the automaker plans to roll out its futuristic Cybercab – a purpose-built, fully autonomous vehicle without a steering wheel or pedals.
Cantor analyst Andres Sheppard sees Tesla’s latest moves as another powerful signal of the company’s strategic edge in the rapidly evolving autonomous vehicle landscape. According to Sheppard, Tesla’s focus on expanding its robotaxi services marks a critical step toward solidifying its role as a frontrunner in the competitive ride-sharing market.
“We expect Robotaxi expansion into the Bay Area (in 3Q), followed by Arizona, Nevada and possibly Florida (in 4Q25/2026E), subject to regulatory approvals… Overall, we continue to see Tesla’s Robotaxi segment as a software-as-a-service, high-margin model, and we expect TSLA to have the ability to rapidly scale following commercialization. We expect TSLA will capture a leading market share in these industries,” Sheppard opined.
To this end, Sheppard rates TSLA shares an Overweight (i.e., Buy) along with a $355 price target. (To watch Sheppard’s track record, click here)
What does the rest of the Street think? Looking at the consensus breakdown, opinions from other analysts are more spread out. 14 Buys, 15 Holds and 8 Sells add up to a Hold (i.e. Neutral) consensus rating. In addition, the $310.65 average price target indicates ~5% downside from current levels. (See TSLA stock forecast)
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.