Tesla stock rises on robotaxi service launch plans

Investing.com -- Tesla (NASDAQ: TSLA) shares edged up 1% after-hours following reports that the electric vehicle giant is targeting a launch date of June 12 for its highly anticipated robotaxi service in Austin, Texas. According to a Bloomberg article citing an individual familiar with the matter, Tesla’s move towards initiating its driverless vehicle service is a significant step in CEO Elon Musk’s strategy to pivot the company towards autonomous technology and artificial intelligence.

The launch date, which has been internally discussed and is subject to change, aligns with Musk’s previous statements that the service would commence by the end of June. Tesla has already conducted a successful test drive of a Model Y SUV on public roads in Austin without a driver, a landmark event as the company gears up for the public introduction of its robotaxi service. An engineer was present in the passenger seat during the test, but the vehicle operated autonomously without any remote control.

This progress represents a buildup to the public offering of the service, which has been preceded by trials with safety drivers transporting Tesla employees around Austin. Musk has emphasized that the robotaxi network, which will initially utilize consumer models and later a dedicated vehicle known as the Cybercab, will play a crucial role in Tesla’s future business model.

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