Shares of Tesla Inc. have seen a significant increase, rising by 4% due to anticipations surrounding the debut of its robotaxi service in the San Francisco Bay Area. The launch is expected to take place as early as this weekend.
Key Details
- The robotaxi service will initially operate with safety drivers, who are human drivers seated in the front seat, capable of intervening using the steering wheel and brakes.
- Tesla plans to offer this service to a select group of invited Tesla owners, who will be required to pay a fee for rides within a specified region. This region includes Marin County, the East Bay, San Francisco, and areas as far south as San Jose.
Regulatory Status
Despite the upcoming launch, Tesla has not yet obtained the necessary permits from California regulators to operate fully autonomous vehicles. According to state officials, Tesla has not submitted the required applications for these permits.
CEO Elon Musk’s Vision
Elon Musk has been placing increasing emphasis on self-driving technology and robotics, believing that these areas will eventually generate substantial revenue for the company. However, Tesla is facing challenges, including being behind schedule in the production of the Optimus humanoid robot. To date, only a few hundred units have been manufactured, falling short of Musk’s goal of producing at least 5,000 units this year.
Stock Performance
Tesla shares have seen a significant increase, rising by 3.55% to $316.08 at the time of writing.
Future Prospects
As Tesla continues to work on its self-driving technology and robotics, the company’s stock is likely to remain a subject of interest for investors. The successful launch of the robotaxi service in the Bay Area could be a crucial step towards achieving Musk’s vision for the company’s future.