Tesla’s (TSLA) long-awaited vision of an autonomous robotaxi service is closer than ever to becoming reality. CEO Elon Musk, in a post on his X social media platform, teased that the company plans to begin offering robotaxi rides in Austin, Texas, as early as June 22. However, Musk noted that the launch date is tentative, explaining that Tesla is “being super paranoid about safety.” Meanwhile, Musk posted a video of a driverless black Model Y SUV navigating public roads in Austin, showcasing Tesla’s progress in autonomous driving.
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All Eyes on Tesla
Tesla’s long-awaited robotaxi launch has captured the attention of investors, analysts, and fans alike, all eager to see how the company’s autonomous ambitions unfold.
With its EV (electric vehicle) sales under pressure from slowing demand and fierce competition from Chinese automakers like BYD (BYDDF), Tesla is shifting focus. The company is placing a massive bet on robotics and artificial intelligence (AI) to power its next chapter of growth. Consequently, Musk has consistently highlighted the robotaxi program and full self-driving technology as pivotal to Tesla’s future, even predicting that these innovations could eventually push the company’s valuation to an eye-popping $30 trillion.
What It Means for Investors
A smooth robotaxi launch could help restore investor confidence in Tesla’s shift from developing a low-cost EV to focusing on a future powered by autonomous vehicle (AV) technology. However, the path forward remains unpredictable. While Musk has championed a self-driving revolution for years, persistent regulatory challenges, safety concerns, and the complexities of achieving true autonomy have continued to slow progress.
If successful, the rollout could be a game-changer in the ride-hailing and autonomous mobility sectors, reshaping the way people travel and unlocking new revenue opportunities for both Tesla and its shareholders.
Is Tesla a Good Share to Buy?
According to TipRanks, TSLA stock has received a Hold consensus rating, with 14 Buys, 12 Holds, and nine Sells assigned in the last three months. The average Tesla stock price target is $286, suggesting a potential downside of over 12% from the current level.
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