Elon Musk-led Tesla is gearing up to unveil its highly anticipated robo-taxi product on August 8, as confirmed by the EV maker’s CEO in a recent social media post. This announcement comes at a crucial time for the company, as investors have been growing wary amid a period of slowing demand for Tesla vehicles.
Since Musk’s tweet, Tesla shares have surged over 3%, indicating strong investor interest in the upcoming robo-taxi project. While the launch date has been set, the company has not yet disclosed when the service will be available for commercial release.
Tesla’s foray into autonomous car technology has been a long time coming, with Musk making bold promises about achieving “full autonomy” for Tesla cars within a few years. Despite this, the company has yet to deliver a fully autonomous vehicle or technology that can transform its cars into “level 3” automated vehicles.
In the competitive autonomous vehicle space, Tesla faces stiff competition from the likes of Google-parent Alphabet’s Waymo, which already operates commercial, driverless ride-hailing services in several US cities. Waymo recently partnered with Uber to use its robotaxis for food delivery in Arizona, further expanding its reach in the autonomous vehicle market.
With the robo-taxi unveiling just around the corner, all eyes will be on Tesla as it looks to solidify its position in the autonomous vehicle market and potentially open up a new revenue stream for the company. Stay tuned for more updates on Tesla’s latest innovation in the coming weeks.
