Ashar Jawad
2 min read
In This Article:
Tesla, Inc. (NASDAQ:TSLA)’s CEO, Elon Musk, has confirmed in an interview with CNBC that the company is on schedule to launch robotaxi trials in Austin, Texas, by the end of June. He also shared plans to introduce the service in San Francisco and Los Angeles after Austin.
The EV maker will begin the trials with 10 self-driving cars in safer parts of Austin with geofencing and deploy up to a thousand robotaxis within a few months if the launch goes well without any incidents.
"It's prudent for us to start with a small number, confirm that things are going well and then scale it up."
A successful trial is vital for Tesla, Inc. (NASDAQ:TSLA) as the company has been promising investors and customers since 2016 about delivering a safe, self-driving car that does not require human supervision.
Tesla, Inc. (NASDAQ:TSLA) has had a volatile 2025 so far, with a year-to-date share price decline of nearly 15%. However, the stock has rebounded over the past month, with gains of 42.45% during the period, with Musk pledging to limit his role in the US government.
Earlier in the day, Musk also announced that he was committed to staying as Tesla, Inc. (NASDAQ:TSLA)’s CEO for the next five years, which is likely to further alleviate investor concerns about his commitment to the company.
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Disclosure: None.
