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HomeTechnologyTesla shares fell 8% after news of Robotaxi's delayed release | Real...

Tesla shares fell 8% after news of Robotaxi’s delayed release | Real Time Headlines

SpaceX and Tesla CEO Elon Musk speaks at the 2024 Milken Global Conference at the Beverly Hilton Hotel in Beverly Hills, California.

David Swanson | Reuters

Tesla The stock closed down about 8% on Thursday Bloomberg The electric car maker has reportedly delayed the launch of its Robotaxi by two months.

back previously announced Tesla will launch its robotaxi on August 8, but has delayed the launch to October to give the project’s team more time to build a prototype, Bloomberg reported, citing people familiar with the matter.

Tesla did not immediately respond to CNBC’s request for comment.

Tesla shares plunged on Thursday after rising for 11 consecutive days on better-than-expected results. delivery report second season. that jump annihilate The stock’s loss for the year. However, the stock is now back in negative territory in 2024, a year that has been hit by massive layoffs The sales decline is partly due to an aging EV lineup and increased competition in China.

Tesla CEO Musk have Commitment to shareholders It’s been robotaxis for years. In 2015, he said Tesla cars would be “fully autonomous” within three years. In 2016, Musk said that by the end of the following year, Tesla would be able to drive one of its cars off-road without any human intervention.

The empty promises continued into 2019, when Musk said Talk to institutional investors Tesla expects to have 1 million robotaxi-equipped vehicles on the road by 2020. Not yet delivered Robotaxis, self-driving cars, or technology that can transform their cars into “Level 3” self-driving cars. At the same time, companies such as alphabetical Waymo and Cruise, owners: General Motorshas surpassed Tesla.

Following dismal first-quarter earnings in April, Musk reiterated his vision Tesla is a company working on developing robotaxis that will make money for both owners and driverless transportation networks.

“If someone doesn’t believe Tesla is going to solve the self-driving problem, I don’t think they should be an investor in the company,” Musk said on the earnings call. The company is scheduled to report second-quarter results later this month.

At Tesla, the “unveil” date does not indicate the date of the near-term commercial launch of a new product. For example, Tesla launched its all-electric heavy-duty truck Semi in 2017, but deliveries will not begin until December 2022.

—CNBC’s Lora Kolodny contributed to this report.

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