Tesla CEO Elon Musk has confirmed that the company's highly anticipated robotaxi unveiling event will be delayed beyond its original August 8 date. Musk indicated that a design change to the front of the vehicle prompted the delay, with no new date announced yet. The additional time will allow Tesla to showcase additional features during the event.
Following reports by Bloomberg News that the robotaxi event would be postponed until October due to Musk's requested changes, Tesla's stock initially dropped by 8% but later rebounded. As of Monday, Tesla shares closed up 1.8% at $252.64. Despite experiencing a more than 40% decline earlier in the year, Tesla's stock has surged over 80% since hitting a 52-week low in April.
Elon Musk has long promoted Tesla's 'Full Self Driving' system, envisioning a future where a fleet of robotaxis generates revenue for both the company and Tesla owners. The system, which has been in development since late 2015, aims to utilize electric vehicles that would otherwise be parked. While thousands of owners are currently testing the self-driving technology on public roads, concerns have been raised regarding its safety.
The U.S. National Highway Traffic Safety Administration reported 75 crashes and one fatality involving the 'Full Self Driving' system, though it remains unclear whether the technology was at fault. Tesla has emphasized that the system is not fully autonomous and requires human drivers to be prepared to take control at any moment.
Based in Austin, Texas, Tesla continues to navigate the challenges and opportunities presented by self-driving technology as it strives to revolutionize the automotive industry.
