Tesla (TSLA) is preparing to launch its autonomous robotaxi service in the San Francisco Bay Area within the next one to two months, CEO Elon Musk said in response to a post on his social media platform X. The rollout, however, remains subject to regulatory approval.
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Tesla Pushes Robotaxi Expansion
Musk also clarified that Tesla will expand the service to a larger area in Austin this weekend, building on last month’s limited pilot. For context, Tesla officially launched its robotaxi service in Austin on June 22, deploying about 10 vehicles under human supervision. Despite the excitement, the debut was low-key, with safety monitors seated up front and access restricted mainly to select social media influencers.
Nonetheless, Tesla’s robotaxi launch marks a major step in its shift from electric vehicles to AI-powered mobility. The rollout has the potential to unlock significant new revenue streams and reshape the company’s long-term growth trajectory. Tesla aims to scale the fleet with full commercial launches targeted for 2026.
TSLA Stock Struggles Continue
TSLA stock saw renewed momentum following the robotaxi announcement, driven by investor hopes that the rollout could reignite Tesla’s growth trajectory.
However, shares dropped sharply earlier this month amid renewed tensions between Musk and President Donald Trump. The conflict reignited on social media following the passage of Trump’s controversial mega-bill. Tensions escalated further when Musk revealed plans to launch a new political party called the America Party.
Tesla is facing tougher EV competition and backlash from Musk’s past ties to Trump, which briefly put him in charge of the Department of Government Efficiency (DOGE). Investors hoped he would turn his focus back to Tesla, but those hopes faded after he announced plans to start a new political party.
Is Tesla a Buy, Sell, or Hold?
According to TipRanks, TSLA stock has received a Hold consensus rating, with 13 Buys, 13 Holds, and nine Sells assigned in the last three months. The average Tesla stock price target is $294.42, suggesting a potential downside of 0.5% from the current level.
