Tesla is set to launch its autonomous ride-hailing service, known as robotaxi, later this month. The company had previously indicated that it was on track to launch the program by the end of May, with CEO Elon Musk stating in a recent interview that the start would likely involve 10 Model Y vehicles operating autonomously.
The launch marks an important milestone for Tesla, which has been struggling to regain momentum after a tumultuous week marked by a spat between Musk and President Trump. The company’s stock rebounded nearly 4% on Friday to close just above $295, but still faces significant challenges, including a rough start to the year, when its stock lost roughly one-quarter of its value.
Analysts are divided on Tesla’s prospects, with some predicting substantial upside for the company’s stock if it can deliver reliable autonomous driving software. Others believe that the technology is still in its early stages and will require further hardware and software updates before it can achieve reliable performance.
The robotaxi service is expected to be initially launched in Austin, Texas, and Tesla owners may eventually be able to add their vehicles to the available fleet to rent for a ride. The company’s ability to scale this project before the Cybercab goes into production next year will be crucial to its success.
Source: https://www.investopedia.com/analysts-look-to-tesla-s-robotaxi-launch-after-stock-hit-from-musk-trump-spat-11749835