Musk announces Tesla’s long-awaited Robotaxi reveal: Tesla Inc. will reveal its much-anticipated robotaxi later this year amid declining

sales and increasing competition from more affordable Chinese electric vehicles.

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Robotaxi Tesla

Fully Autonomous Vehicle

Hybrid Models

Robotaxi Tesla

On Friday, Elon Musk, the CEO, announced on X, his social media platform,
that Tesla’s robotaxi will debut on August 8.
Following this announcement, Tesla’s shares increased to 5.1% in after-hours trading in New York.
Despite this boost, Tesla’s stock has experienced a 34% drop this year up to the end of trading on Friday.
Before this robotaxi news was shared by Musk, he was surpassed by Mark Zuckerberg,
the CEO of Meta Platforms Inc., as the world’s third wealthiest individual.

Fully Autonomous Vehicle

Tesla has always highlighted a fully autonomous vehicle, which it first promised investors in 2019,
as a critical component of its ambitious valuation.
The company has recently introduced the latest iteration of its driver assistance system,
marketed as FSD or Full Self-Driving, to its customers.

Tesla mentioned that its upcoming vehicle platform will feature a more affordable car and a dedicated robotaxi.
Although there have been hints about both, prototypes for neither have been revealed.
Musk’s recent tweet suggests that the robotaxi is taking precedence over the more affordable car,
although both will be developed on the same platform.

Earlier on Friday, Reuters reported that Tesla had abandoned plans for a cheaper vehicle,
Instead, they opt to allocate more resources towards the robotaxi’s development.
Musk countered these reports by accusing “Reuters of lying,” without providing further details.

Hybrid Models

In the first quarter, Tesla produced 46,561 more vehicles than it managed to deliver, leading to price reductions.
The shift in US consumer preference towards hybrid models over
pricier EVs has prompted many manufacturers to reconsider their electrification strategies.

Musk’s bold product launches have generated excitement among Tesla’s customers and investors,
bypassing traditional advertising methods. However, not all launches have been successful;
The Cybertruck, unveiled amid much fanfare in November 2019, faced significant production delays,
and its gradual market introduction.

Musk announces Tesla’s long-awaited Robotaxi reveal

Musk announces Tesla&#8217;s long-awaited Robotaxi reveal

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Musk announces Tesla’s long-awaited Robotaxi reveal