All articles tagged with #robo taxi
Tesla shares rose after the company launched its robo-taxi app in Austin, despite Elon Musk not attending a White House dinner with other tech CEOs, reflecting investor confidence in Tesla's autonomous vehicle progress and a focus away from Musk's political activities.
Tesla CEO Elon Musk announced that Tesla's robo-taxi service in Austin, Texas, will be open to the public next month, with additional software upgrades expected to significantly improve the system. The service, which uses Tesla's Full Self Driving software, is part of Tesla's broader strategy to lead in autonomous vehicle technology, competing with companies like Waymo. The rollout could dramatically expand Tesla's autonomous ride-hailing capabilities across the U.S., potentially reaching half the population by year's end, pending regulatory approval.
Uber's stock fell 2.9% despite strong earnings and a $20 billion buyback, mainly due to concerns over the significant investments required for autonomous vehicle technology and competition from robo-taxi services. The company reported better-than-expected revenue and forecasted higher gross bookings, with ongoing investments in partnerships like Lucid to develop autonomous vehicles, but these efforts have yet to impact Uber's market share significantly.
Lucid's stock surged 36.2% after announcing a partnership with Uber and Nuro to provide luxury vehicles equipped with self-driving technology for a new robo-taxi service launching next year, aiming to deploy over 20,000 vehicles over six years, marking a significant expansion into autonomous ride-hailing.
Tesla's stock remained stable after the robo-taxi launch, but faces potential turbulence due to upcoming delivery and earnings reports, with delivery estimates falling and CEO Elon Musk criticizing recent legislation affecting EV incentives.
Tesla's stock declined slightly after a significant jump following the launch of its robo-taxi service in Austin, Texas, amid safety concerns and ongoing investigations by NHTSA. While the service has received positive reviews, videos showing minor errors have prompted regulatory scrutiny, highlighting the challenges and uncertainties in scaling autonomous vehicle technology. Investors are cautious, comparing Tesla's progress to competitors like Waymo, which has demonstrated safety improvements with more extensive ride data. The future of Tesla's robo-taxi ambitions depends on safety, regulatory approval, and scaling efforts.