Tesla CEO Elon Musk made a significant announcement regarding the release date of the highly anticipated Tesla robotaxi. Musk took to his social media platform X, formerly known as Twitter, to share the news on a Saturday. In his post, the tech billionaire stated, “Tesla Robotaxi unveil on 8/8.”
The revelation of the robotaxi unveil caused a notable reaction in the stock market, with Tesla’s stock experiencing a nearly 4% surge to $171.19 during extended trading on the preceding Friday, as reported by Market Watch.
This announcement from Musk follows recent speculation and rumors surrounding Tesla’s plans, particularly regarding the potential cancellation of a lower-priced car model. Musk swiftly denied these reports, underscoring Tesla’s unwavering commitment to advancing autonomous vehicle technology. The unveiling of the Tesla robotaxi signifies a continuation of this focus, with Musk positioning Tesla as a disruptive force in the automotive industry through the development of self-driving vehicles.
What is Elon Musk’s Robotaxi Dream?
Elon Musk’s vision for Tesla’s robotaxi, initially outlined during a 2019 investor event, depicts a futuristic landscape with self-driving vehicles operating as part of a rental-based taxi service. In this envisioned future, owners would have the opportunity to earn income by leasing out their autonomous vehicles, with Tesla receiving a commission for facilitating the transactions.
However, the realization of Musk’s robotaxi concept has encountered various challenges and delays. Initial projections from 2019 anticipated operational robotaxis by 2020, but Musk openly acknowledged setbacks, admitting, “The only criticism, and it’s a fair one, sometimes I’m not on time.”
One significant hurdle to the deployment of robotaxis is obtaining regulatory approval for Tesla’s self-driving technology. Last year, Tesla faced setbacks when the National Highway Traffic Safety Administration (NHTSA) identified issues with Tesla’s Full Self-Driving (FSD) Beta software, leading to the recall of numerous vehicles. The NHTSA raised concerns that the software could potentially cause Tesla cars to exceed speed limits or exhibit unpredictable and unsafe driving behavior.
Currently, Tesla offers buyers the option to equip their new Tesla Model 3 with full self-driving capability at an additional cost of $12,000 on top of the base price of $40,000. Alternatively, buyers can opt for a subscription model priced at up to $199 per month, depending on the vehicle’s configuration.
