Elon Musk delays robotaxi launch till October due to design change

17 Jul 2024 CW Team

Tesla CEO Elon Musk confirmed that the highly anticipated robotaxi unveiling event, initially scheduled for August 8, will be postponed. In a post on X, the social media platform he owns, Musk stated that he requested a design change to the front of the vehicle, necessitating the delay. However, he did not provide a new date for the event.

"The extra time allows us to show off a few other things," Musk wrote on X.

A message seeking comment from Tesla was left unanswered. The source had reported that the event would be delayed until October due to the design changes requested by Musk. This report led to an 8% drop in Tesla's stock that day.

Tesla shares, which had been down more than 40% earlier in the year, have risen over 80% since hitting a 52-week low in April.

Musk has long promoted Tesla's ?Full Self Driving? (FSD) system as a major growth driver for the company, envisioning a fleet of robotaxis generating income for both the company and Tesla owners by utilising the electric vehicles when they would otherwise be parked. The FSD hardware has been available for sale since late 2015 and is currently being tested on public roads by thousands of Tesla owners.

However, the U.S. National Highway Traffic Safety Administration (NHTSA) has identified 75 crashes and one death involving the FSD system, though it remains unclear if the system was at fault. Tesla has consistently stated that the system cannot drive itself and that human drivers must be prepared to take control at all times. (Source: Bloomberg News & ET)

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