Tesla Shares Jump 9.7% After Launch of First Robotaxi Service in the U.S.
Despite Musk’s enthusiasm, the launch has reignited the long-running debate in the U.S. over self-driving technology.
Quick overview
- Tesla shares surged 9.73% following the launch of its first driverless Robotaxi service in Austin, Texas, with a flat fare of $4.20.
- The pilot program starts with 10 autonomous vehicles, but Elon Musk aims to deploy up to one million Robotaxis within a year based on initial success.
- Musk celebrated the milestone on social media, highlighting a decade of work by Tesla's software and chip design teams.
- The launch has reignited debates over self-driving technology, with critics questioning the safety and naming of Tesla's Full Self-Driving system.
Tesla (TSLA) shares jumped 9.73% after the U.S. company unveiled its first driverless Robotaxi service in Austin, Texas, launching with a modest flat fare of $4.20.
This pilot program began with 10 fully autonomous vehicles, but Elon Musk has far more ambitious plans. The South African-born billionaire aims to deploy up to one million Robotaxis within just over a year, depending on the success of this initial rollout.
In the last five trading days, TSLA had already gained 6.75%, and 4.18% over the past month, recovering from a sharp 14.26% drop between June 4 and 5. The Robotaxi news helped the stock reclaim some lost ground after a 17.90% decline over the past six months.
Musk Celebrates Milestone
Posting on his social platform X, Musk praised the milestone:
“Huge congratulations to Tesla’s software and chip design teams for the successful Robotaxi launch! This marks the culmination of a decade of hard work. Both our AI chip and software teams were built from scratch inside Tesla.”
Controversy Rekindled Over Autonomous Vehicles
Despite Musk’s enthusiasm, the launch has reignited the long-running debate in the U.S. over self-driving technology.
Tesla’s Full Self-Driving (FSD) system remains controversial. Critics argue the name can be misleading, as drivers are still required to remain attentive and be ready to take control if needed.
Tesla has previously faced legal challenges over its autonomous features. Some lawsuits were dismissed, while others ended in settlements. Musk, however, insists that the Robotaxis use an enhanced version of FSD, which he claims will deliver the necessary safety standards to operate without a human driver.
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