After setting the date for the new generation autonomous taxi service Robotaxi for August 8, 2024, Tesla decided to postpone the launch, causing its shares to plummet. Tesla shares, which had been on an upward trend for a while, fell by over 8% after the launch was pushed to October. Here are the details…
Tesla Shares Affected by Robotaxi Decision
According to a Bloomberg report citing sources close to the company, Tesla decided to delay the Robotaxi launch by a few months. Tesla CEO Elon Musk had announced three months ago that Robotaxi would be unveiled at an event on August 8.
Recent news from Tesla indicates that the launch has been postponed to October 2024 to give engineers more time to work on the prototype. The postponement of this highly anticipated launch by Tesla shareholders ended an 11-session streak of rising shares, resulting in an 8% decline, closing at $241.03.
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The automaker’s Robotaxi technology is expected to use multiple cameras, ultrasonic sensors, and a forward-facing radar to create a 360-degree view around the vehicle. Musk previously stated that the autonomous taxi would have a futuristic design without a steering wheel and pedals.
With sales dropping dramatically across the United States, ongoing disputes and lawsuits between Elon Musk and shareholders, Tesla now faces the additional challenges of the Robotaxi delay and falling shares.
What are your thoughts on this matter? Will Tesla be able to overcome these difficult days? Don’t forget to share your views with us in the comments section.
