Tesla’s Robotaxi service is now live in Austin, Texas. The company launched its first official robot taxi service last Sunday in a limited area of the city. For now, it’s only available to a select group of fans, and a Tesla employee must be present in the vehicle for safety reasons.
This new development sent Tesla’s stock soaring 8.2% on Monday, closing at $348.68. Investors are hoping this technology will be a game-changer for the company’s revenue and future value.
However, this initial launch doesn’t quite match the vision Elon Musk presented in 2019. Back then, he promised that Tesla owners would be able to rent out their cars as robot taxis, generating income. The current service uses standard Model Y cars, not the Cybercabs without steering wheels that were announced.
Compared to its main competitor, Waymo, Tesla’s service is still relatively small. Waymo, a subsidiary of Alphabet, has been operating a full commercial service in several cities, including Austin, since March. They’ve already provided over 250,000 rides per week.
Dan Ives, a Wedbush Securities analyst and Tesla enthusiast, tested the Robotaxi service on its first day. He praised the ride, saying it was “impressive” despite navigating through narrow streets, parked cars, and traffic cones. Ives believes that if Tesla can develop and deliver on its plans, a future with millions of robot taxis by 2026 is possible.
However, some social media users have shared videos of the Robotaxi making mistakes, such as driving on the wrong side of the road or failing to stop at the destination. These incidents have raised concerns and highlighted the need for further development.