logo
Musk touts driverless Tesla test ahead of Austin robotaxi launch

Musk touts driverless Tesla test ahead of Austin robotaxi launch

Tesla Inc. executives including Elon Musk promoted a video of one of its vehicles driving in Austin with nobody behind the wheel, hinting that it's close to launching its robotaxi service in the Texas capital.
A black Model Y emblazoned with 'robotaxi' on its front door turned off South Congress Avenue in a touristy area of the city in the video, which was posted to Musk's social media platform X. Musk shared the video on his X account, as did Ashok Elluswamy, who leads Tesla's Autopilot teams and recently took over responsibility for the company's Optimus humanoid robot program.
Although neither Musk nor Tesla have specified a precise launch date, Bloomberg has reported that Tesla aims to begin operating its robotaxi network on June 12. The company has been testing self-driving Model Y SUVs that will be used in the operation's initial phase. Model Ys with manufacturer plates and a person behind the wheel have been spotted driving around parts of Austin, including South Congress.
The vehicles are expected to use an 'unsupervised' version of Tesla's suite of driver-assist systems known as Full Self-Driving. In a separate X post, Musk said the vehicle in the video was running on a new version of software.
Musk has staked the future of his electric-vehicle company to robotics, autonomy and artificial intelligence. He's said the robotaxi launch in Austin will start small, with as few as ten to twenty vehicles, before growing over time. It's unclear who will be the first users of the robotaxi service, what app will be used or how much rides will cost.
Carlson writes for Bloomberg.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Worried About Tesla's Robotaxi? These Two Words From Nvidia CEO Jensen Huang Might Change Your Mind.
Worried About Tesla's Robotaxi? These Two Words From Nvidia CEO Jensen Huang Might Change Your Mind.

Yahoo

timean hour ago

  • Yahoo

Worried About Tesla's Robotaxi? These Two Words From Nvidia CEO Jensen Huang Might Change Your Mind.

Elon Musk sees autonomous driving as a major component of Tesla's future. While the competition in this young industry will be intense, Nvidia CEO Jensen Huang thinks Tesla has an edge. Some on Wall Street have been raising their share price outlooks for Tesla stock, but recent price action suggests now could be a risky time to buy. These 10 stocks could mint the next wave of millionaires › Tesla (NASDAQ: TSLA) is primarily known for two things: electric vehicles (EV) and energy storage. For years, however, the company's eccentric CEO Elon Musk has been talking about a vision for the company that's rooted in artificial intelligence (AI). Specifically, Musk wants to parlay Tesla's automobile business into a full-fledged robotaxi operation. The prospects of Tesla disrupting ride-hailing, delivery services, and even car rental businesses has investors excited. But just how real is the opportunity? According to Nvidia CEO Jensen Huang, who appears to be a fan of Musk already, Tesla's autonomous driving ambitions are very real. Let's dig into some recent commentary from Huang that should have Tesla bulls cheering. During an April 2024 earnings call, Musk made an interesting point comparing the evolution of automobiles to that of cellphones. He described how the release of the iPhone and Android devices served as an existential shift in the mobile phone business, essentially turning flip phones into relics. Musk went on to predict that "all cars will need to be smart cars" in the future. By "smart car," Musk means cars that are capable of driving themselves. Essentially, he is saying that autonomous driving is the future of the automotive industry, and if legacy manufacturers such as Ford and General Motors don't catch up to what Tesla is developing through its full self-driving software, then "licensing becomes not optional." During an interview with Yahoo! Finance, Huang appeared to echo Musk's sentiment that all cars will eventually be leveraging autonomous driving technology. But the real kicker is what Huang said about Tesla, declaring the company is "far ahead" of the competition. Two of the biggest Tesla bulls on Wall Street are equity research analyst Dan Ives of Wedbush Securities and Ark Invest CEO Cathie Wood. With Tesla's robotaxi launch reportedly on the horizon, Ives got investors excited when he recently declared the "golden age" of autonomous driving has arrived. Perhaps unsurprisingly, Ives also raised his price target to $500 for Tesla stock, implying nearly 53% upside from the stock's closing price on June 10. Considering Alphabet's Waymo already has the lead in robotaxis, combined with existing footprints in the ride-hailing industry from Uber and Lyft, Tesla would appear to have an uphill battle when it comes to acquiring customers and scaling its own autonomous vehicle fleet. Nevertheless, Wood appears to be even more bullish than Ives. The Ark Invest founder recently doubled down on her optimistic case for Tesla with a five-year share price target of $2,600! Tesla has long been a stock that exhibits out-of-the-ordinary behavior. What I mean by that is measuring Tesla based on traditional valuation metrics such as price-to-sales (P/S) or price-to-earnings (P/E) has rarely been useful. The reason is because Tesla stock tends to move based on narratives and less so on concrete financials. Over the last month, shares of Tesla have gained roughly 9% as of June 10. However, within that brief period, the stock had climbed as high as 22% and declined as much as 5%. This is an extreme range of volatility, even for Tesla. Tesla stock started to tick higher throughout May as Musk announced that he's moving on from his public sector duties at the Department of Government Efficiency (DOGE). Investors were happy to hear this as they assumed Musk would refocus on Tesla, a business that's been stagnant for over a year now. On top of that, the expected robotaxi rollout in June likely attracted some investors as well. But over the last week, Tesla stock took a nosedive at one point due to a very public feud between Musk and President Donald Trump -- specifically regarding disagreements the two have on Trump's new spending bill. Just weeks ago, it seemed the upside from the robotaxi launch was already priced into Tesla stock, but now, you could argue this is an opportunity to buy the dip. With this much volatility and so much of it hanging on the robotaxi, I'd wait and see how the launch goes. Long-term scaling of the robotaxi business will require regulatory approvals, making Musk's political feuds all the more relevant. While it's tempting to scoop up shares of Tesla based on positive talking points from prominent figures such as Huang, Ives, and Wood, there's just too many unknowns surrounding the company right now to make it a prudent buy at these prices. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $373,325!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,475!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $649,102!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 9, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Adam Spatacco has positions in Alphabet, Nvidia, and Tesla. The Motley Fool has positions in and recommends Alphabet, Nvidia, Tesla, and Uber Technologies. The Motley Fool recommends General Motors and Lyft. The Motley Fool has a disclosure policy. Worried About Tesla's Robotaxi? These Two Words From Nvidia CEO Jensen Huang Might Change Your Mind. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Donald Trump responds to Elon Musk's late-night apology after ugly public feud
Donald Trump responds to Elon Musk's late-night apology after ugly public feud

New York Post

time2 hours ago

  • New York Post

Donald Trump responds to Elon Musk's late-night apology after ugly public feud

WASHINGTON — President Trump is feeling good about Elon Musk's apology after the former 'first buddy' admitted late Tuesday he had gone 'too far' in his personal attacks on the commander-in-chief. 'I thought it was very nice that he did that,' the president told The Post in a brief phone conversation Wednesday morning, but didn't say whether he was willing to let bygones be bygones with the Tesla and SpaceX CEO. 3 Musk, 53, went off on Trump in a series of social media messages this past Thursday, at one point claiming the Republican would not have won the 2024 election without his help and suggesting the president was responsible for preventing the release of files on convicted pedophile Jeffrey Epstein due to his past association with the late financier. 'I regret some of my posts about President @realDonaldTrump last week. They went too far,' Musk wrote late Tuesday after previously deleting his post about the Epstein files. Efforts have been made by Trump's allies to ease tensions between the two men. On Friday, Vice President JD Vance and White House chief of staff Susie Wiles held a phone call with Musk to talk about his relationship with Trump, according to a source familiar with the conversation. The Post could not independently confirm other reports that Musk reached out to Trump personally on Monday. The president has expressed openness to potentially burying the hatchet with Musk — who he accused last week of having 'Trump Derangement Syndrome' and being bitter about both leaving his special government employee position and the House GOP removing electric vehicle tax incentives from the One Big Beautiful Bill Act. 3 Trump told CNN on Friday that Musk was 'crazy' — and threatened on Truth Social to look into revoking his company's federal government contracts. But the president also told The Post on Friday that 'nothing surprises him' — not even his onetime ally turning against him. Trump told Post columnist Miranda Devine Monday that he doesn't 'blame' Musk for the blow-up that started with the former Department of Government Efficiency (DOGE) figure's criticisms of the Big Beautiful Bill — but maintained that he's 'a little disappointed.' 'Look, I have no hard feelings,' Trump said. 'I was really surprised that that happened. He went after a bill that's phenomenal. …He just — I think he feels very badly that he said that, actually.' When asked whether he would ever go back to a regular relationship with Musk, Trump told Devine's 'Pod Force One' podcast: 'I guess I could, but we have to straighten out the country.' 'And my sole function now is getting this country back to a level higher than it's ever been. And I think we can do that.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store