Tesla’s Driverless Robotaxis Are Operating On Texas Streets
Tesla’s (TSLA) self-driving Robotaxi is being tested on the streets of Austin, Texas.
A video of the driverless vehicle operating on Austin roads helped to send Tesla’s stock up 4% on June 10, pushing the company’s market capitalization back above $1 trillion U.S.
On social media, Tesla CEO Elon Musk highlighted the video of a driverless car without any humans inside and praised the design.
Musk also predicted that other automakers will eventually license Tesla’s self-driving technology for their own purposes.
The driverless vehicle has long been promised by Tesla, and expectations are high for its success among shareholders of Tesla stock.
That the Robotaxis are finally hitting the streets is a positive development for the company following the recent public feud between Musk and U.S. President Donald Trump.
The Robotaxi trial also comes as Tesla’s sales slump amid a public backlash against the corporate brand and politics of Musk.
Despite the recent difficulties, some analysts are once again turning bullish on Tesla’s stock and cheering the Robotaxi trial, saying it allows investors’ attention to return to Tesla’s fundamentals.
Musk has said that the company’s future is as a self-driving taxi service.
Tesla’s stock has declined 14% this year to trade at $326.09 U.S. per share.
