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Reading: Tesla shares bounce 10% after first robotaxi rides hit the street in Austin, Texas
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StockWaves > Financial News > Tesla shares bounce 10% after first robotaxi rides hit the street in Austin, Texas
Financial News

Tesla shares bounce 10% after first robotaxi rides hit the street in Austin, Texas

StockWaves By StockWaves Last updated: June 23, 2025 3 Min Read
Tesla shares bounce 10% after first robotaxi rides hit the street in Austin, Texas
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Tesla shares jumped 10% on Monday, lifted by the long-awaited launch of the corporate’s robotaxi service that CEO Elon Musk has for years championed as a key driver of the electrical automobile maker’s lofty valuation.

The automaker deployed a small fleet of self-driving taxis in Austin, Texas, on Sunday, marking the primary time its automobiles have carried paying passengers with out human drivers. The rides had been being provided for a flat charge of $4.20 in a restricted zone.

The trial’s success is essential for Tesla as Musk has pivoted the corporate to self-driving automobiles and robots, shelving plans for mass-market dominance within the EV house as Chinese language competitors heats up and demand slows for its ageing line-up of fashions.

“It was a cushty, secure, and personalised expertise,” mentioned Wedbush Securities analyst Dan Ives, who took a number of robotaxi rides on Sunday and has lengthy been a Tesla bull.

“There was a second the place we drove up a slender street going up a hill with automobiles parked on each side with oncoming visitors and other people opening their automobile doorways into the street and the robotaxi masterfully maneuvered with persistence and security.”

Reside Occasions


Many social-media influencers additionally posted movies of their first rides on X, displaying the automobiles navigating busy metropolis streets by slowing down and making room for incoming visitors. Nonetheless, the tightly managed trial – with about 10 autos and front-seat riders performing as “security displays” – is simply step one in what may very well be a years-long technique of scaling up the service, in response to some trade consultants. Tesla, in addition to rivals together with Google-backed Waymo, have confronted federal investigations and remembers following collisions.

Trade consultants have questioned the efficacy of Tesla’s self-driving know-how that relies upon totally on cameras and AI, with out redundant sensors reminiscent of lidar and radar, claiming fog, heavy rain and obvious daylight can hamper security.

The corporate will even must navigate a brand new Texas legislation taking impact September 1 that requires a state allow for self-driving autos and displays bipartisan requires a cautious roll-out.

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