Latest news with #CyberCab
CNBC
2 days ago
- Automotive
- CNBC
Amazon's Zoox robotaxi unit clears regulatory hurdle, safety probe
Amazon's Zoox has cleared a key regulatory hurdle, paving the way for demonstrations of its self-driving robotaxis. The National Highway Traffic Safety Administration said Wednesday that it granted Zoox an exemption from some requirements, a first for U.S.-built vehicles under a recently expanded program. "Transportation innovators can be confident in getting speedy review of their vehicles and, as appropriate, exemption from Federal Motor Vehicle Safety Standards," NHTSA Chief Counsel Peter Simshauser said in a release. The company must remove all existing statements that its purpose-built vehicles meet all federal motor vehicle safety standards. As part of the announcement, NHTSA said it's closing a probe opened in March 2023 into Zoox's self-certification that its robotaxi met federal safety standards. "Through this new exemption process, we are excited to embark on this new path, put these discussions behind us, and move forward," Zoox said in a statement. The Department of Transportation in April announced it would expand a program that aims to speed up the autonomous vehicle exemption process to include domestically produced vehicles. Previously, it was limited to imported AVs. The easing of regulations will benefit Zoox and its competitors. Tesla has announced that it plans to produce a two-seater CyberCab with no steering wheel or pedals down the line. The expansion of the Automated Vehicle Exemption Program could make it easier for the company to conduct testing and operate on public, U.S. roadways if Elon Musk's automaker can meet the agency's requirements. Zoox, founded 11 years ago and purchased by Amazon for $1.3 billion in 2020, has been gearing up for further expansion this year. The company in June opened a robotaxi manufacturing facility in the San Francisco Bay Area, where it aims to eventually produce 10,000 vehicles a year once it's at full scale. Zoox needs more of its toaster-shaped robotaxis to roll off the assembly line to fulfill its mission of deploying a commercial ride-hailing service in the U.S. The company has eyed Las Vegas as its first commercial market, and said it plans to begin service there later this year.
Business Insider
01-07-2025
- Automotive
- Business Insider
All Eyes on Tesla Stock Ahead of Q2 Deliveries Report; Here's What Wall Street Expects
Tesla (TSLA) is set to announce its Q2 delivery haul shortly, and by all accounts, another disappointing showing is on the way. Those hoping that sales might have improved now that Elon Musk has stepped away from his government duties to refocus on Tesla are likely to be let down. Even Tesla's strongest supporters are bracing for bad news. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Canaccord analyst and TSLA bull George Gianarikas, who maintained a positive stance amidst Q1's dire showing, now concedes that the picture looks pretty grim. 'We had taken a view that the impact of Mr. Musk's political associations could not be properly discerned in 1Q25 based on a mid-quarter Model Y production ramp,' says the analyst. 'Well, we think it's now fair to say there's been an impact. 2Q deliveries are tracking poorly in many geographies, including Europe where hard mid-quarter data is more readily available.' As such, Gianarikas has now lowered his 2Q25 delivery forecast from ~432,500 to ~360,000. With that buzz killer out of the way, however, Gianarikas dons his bull hat again to applaud the fact the robotaxi launch has gone ahead as Elon promised. 'It was a success,' thinks Gianarikas, 'regardless of the safety driver, limited access, and a geofenced ODD (operational design domain).' In contrast to lidar-equipped vehicles, Tesla has deployed a driverless car that relies solely on cameras and neural networks. The true challenge now lies in scaling this technology nationwide and eventually worldwide. Gianarikas remains cautious about whether Tesla's autonomous vehicle approach can handle all weather conditions reliably and prove to be the safest option. However, the analyst thinks Tesla's method could turn out to be the most cost-effective when produced at scale. With just a software update, Tesla could enable around 2.8 million vehicles in the U.S., offering a significantly cheaper service that could reshape competition for companies like Uber and Lyft. For now, the analyst estimates Tesla's cost per mile for its Robotaxi service – assuming a 50% gross margin – is about $1.09 per mile, which could decrease to roughly $0.97 once the CyberCab is introduced. This is considerably more affordable than Uber and Lyft, which Gianarikas reckons operate at over $3.00 per mile. Plus, there's a bonus in the fact 'robodrivers don't need (tax-free) tips.' For Gianarikas, Tesla is essentially a bet on 'scaled unsupervised FSD (full self-driving)' technology, energy storage, and robotics, one that rests on the company becoming a 'vertically integrated leader in all three.' However, for now, and likely for the foreseeable future, their profit and loss are still driven primarily by EVs. 'We need to see growth in the core business to drive material positive earnings revisions,' Gianarikas summed up. 'We are keeping our price target at $303 for now as we await a full earnings report and assessment of the fundamentals.' That target suggests TSLA stock is still about 6% overvalued, but he's sticking with his Buy rating for now. (To watch Gianarikas' track record, click here) 13 other analysts consider TSLA shares a Buy too, yet with an additional 12 Holds and 9 Sells, the analyst consensus rates the stock a Hold (i.e. Neutral). The average price target stands at $291.31, implying the shares will shed 8% of their value over the coming months. (See TSLA stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
NBC News
20-06-2025
- Automotive
- NBC News
Everything we know about Tesla's robotaxi launch in Austin
Tesla 's long-overdue robotaxi is finally hitting the streets this weekend, but the rollout may face some roadblocks. The Elon Musk -led electric vehicle company is expected to roll out robotaxis in Austin, Texas, on June 22, with the first driverless trip from the factory to a customer house expected on his birthday, June 28. Musk shared news of the tentative debut in a post on social media platform X last week. Here's what we know about the Tesla event so far. When and where The launch will include a limited number of Tesla vehicles debuting in Austin on June 22. The initial rides will be in the Model Y and not the CyberCab that was unveiled in October. Access to the vehicles and rides is by invitation only. Some influencers on social media have reported receiving early access invites to test out the new service starting Sunday. The rides will also occur in a geofenced area of the city and remote drivers will be monitoring as a backup. Musk told CNBC's David Faber that robotaxis will only operate in the parts of Austin that the company would 'consider to be the safest' and said Tesla will be 'watching' the cars in remote operations centers. Can Musk deliver on promises? Musk has long touted a driverless robotaxi, and the pressure is on the billionaire to deliver on his promises. As early as 2019, Musk said he was 'very confident' that robotaxis would launch in 2020. In May, Musk confirmed plans to debut the service in Austin this month, with launches later set for Los Angeles and San Francisco. At the time, Musk said the service would launch with 10 vehicles circulating Austin. 'It's prudent for us to start with a small number, confirm that things are going well and then scale it up,' he told CNBC's Faber. Wall Street analysts such as Wedbush's Dan Ives believe robotaxis will usher in the 'golden era of autonomous for Tesla' that could power its market capitalization to more than $2 trillion by the end of next year. That's about double its market value from Wednesday's close. 'There will be many setbacks ... but given its unmatched scale and scope globally we believe Tesla has the opportunity to own the autonomous market and down the road license its technology to other auto players both in the U.S. and around the globe,' he wrote in a note. Tesla, once seen as a self-driving tech leader, is now a laggard, trying to catch up to Alphabet -owned Waymo in the U.S. Waymo, which said it reached 10 million trips in May, is already operating a fleet of commercial robotaxis across the U.S. and is also seeking permission to test its autonomous vehicles, with a human safety driver on board, in New York City. Regulatory hurdles and opposition Tesla faces a bumpy road ahead, littered with regulatory hurdles and pushback from lawmakers. On Wednesday, a group of Democratic lawmakers in Texas called on Tesla to push off its robotaxi launch until Sept. 1, when Texas rolls out a new slate of self-driving laws. 'We believe this is in the best interest of both public safety and building public transit operation,' the group said in a letter addressed to Tesla's field quality director, Eddie Gates. They also asked for 'detailed information demonstrating that Tesla will be compliant with the new law' if it goes ahead with the launch. Public safety advocates protested the launch in Austin earlier this month. A group known as The Dawn Project, a tech safety organization that is critical of Tesla's autonomous capabilities, demonstrated a Tesla Model Y with currently available 'Full Self Driving' software running past a stopped school bus and hitting a child-sized mannequin. The group said it was a situation where the software misread the elements in the road. 'Any human ... following the law would have stopped when they saw the school bus stopped with the lights flashing. They would have stopped,' Dawn Project founder Dan O'Dowd told CNBC's ' Squawk on the Street ' on Friday. O'Dowd, who also runs Green Hills Software, a company that sells technology to Tesla competitors, told CNBC that the software is 'nowhere near done' and shouldn't be taking to the streets. 'This software does not know how to recognize a school bus,' he said. Tesla's FSD capabilities, which feature a standard FSD or FSD supervised, include automatic steering and parking, but have been connected to accidents and fatalities, according to data tracked by the National Highway Traffic Safety Administration. Tesla under fire Tesla's brand has taken several hits in recent months with a decline in sales and reputational damage linked to Musk's political activities. Musk was a major supporter of President Donald Trump, funneling hundreds of millions into his reelection campaign and later spearheading his Department of Government Efficiency effort aimed at cutting costs. He left the department at the end of May. Musk's close ties to Trump's White House have caused owners to part with the brand and in some cases led to violence, with showrooms and vehicles targeted in arson and vandalism attacks. But the relationship between Musk and Trump soured earlier this month after the tech titan berated the president's spending bill on X, leading to a drastic sell-off in the stock. He later apologized for his social media posts, saying some 'went too far.' The EV maker is also seeing a global sales decline weighing on key markets such as the U.S. and Europe. Vehicle sales in Europe tanked 49% from a year ago in April, while global first-quarter deliveries dropped 13%. The decline was tied to a combination of Musk's politics and heightened competition in the EV market.
CNBC
20-06-2025
- Automotive
- CNBC
Everything we know about Tesla's robotaxi launch in Austin
Tesla's long-overdue robotaxi is finally hitting the streets this weekend, but the rollout may face some roadblocks. The Elon Musk-led electric vehicle company is expected to roll out robotaxis in Austin, Texas, on June 22, with the first driverless trip from the factory to a customer house expected on his birthday, June 28. Musk shared news of the tentative debut in a post to social media platform X last week. Here's what we know about the Tesla event so far. The launch will include a limited number of Tesla vehicles debuting in Austin on June 22. The initial rides will be in the Model Y and not the CyberCab that was unveiled in October. Access to the vehicles and rides is by invitation only. Some influencers on social media have reported receiving early access invites to test out the new service starting Sunday. The rides will also occur in a geofenced area of the city. Musk has long touted a driverless robotaxi, and the pressure is on the billionaire to deliver on his promises. As early as 2019, Musk said he was "very confident" that robotaxis would launch in 2020. In May, Musk confirmed plans to debut the service in Austin this month, with launches later set for Los Angeles and San Francisco. At the time, Musk said the service would launch with 10 vehicles circulating Austin. "It's prudent for us to start with a small number, confirm that things are going well and then scale it up," he told CNBC's David Faber. Wall Street analysts such as Wedbush's Dan Ives believe robotaxis will usher in the "golden era of autonomous for Tesla" that could power its market capitalization to more than $2 trillion by the end of next year. That's about double its market value from Wednesday's close. "There will be many setbacks ... but given its unmatched scale and scope globally we believe Tesla has the opportunity to own the autonomous market and down the road license its technology to other auto players both in the U.S. and around the globe," he wrote in a note. Tesla faces a bumpy road ahead, littered with federal regulatory hurdles and pushback from lawmakers. On Wednesday, a group of Democratic lawmakers in Texas called on Tesla to push off its robotaxi launch until Sept. 1, when Texas rolls out a new slate of self-driving laws. "We believe this is in the best interest of both public safety and building public transit operation," the group said in a letter addressed to Tesla's field quality director Eddie Gates. They also asked for "detailed information demonstrating that Tesla will be compliant with the new law" if it goes ahead with the launch. Public safety advocates protested the launch in Austin earlier this month. A group known as The Dawn Project, a tech safety organization that is critical of Tesla's autonomous capabilities, demonstrated a Tesla Model Y with currently available "Full Self Driving" software running past a stopped school bus and hitting a child-sized mannequin. The group said it was a situation where the software misread the elements in the road. Dawn Project founder Dan O'Dowd also runs Green Hills Software, a company that sells technology to Tesla competitors. Tesla's FSD capabilities, which feature a standard FSD or FSD supervised, include automatic steering and parking, but have been connected to accidents and fatalities, according to data tracked by the National Highway Traffic Safety Administration.
Time of India
11-06-2025
- Automotive
- Time of India
Here's when Elon Musk's Tesla is planning to launch its robo taxi service in US
Representative Image Elon Musk has announced a "tentative" launch date for Tesla's robotaxi service in Austin, Texas, set for June 22. The Tesla CEO made this announcement in a post shared on the social media platform X (earlier Twitter), indicating that he'll be travelling from Los Angeles to Austin for the kickoff. Previously, the tech billionaire mentioned a June launch window for the service. When inquired about the start of public rides for the service, Musk specified June 22 as the current plan. He also noted that the first driverless trip from the Tesla factory to a customer's house is scheduled to occur on his birthday, June 28. In his X post, Musk wrote: 'Tentatively, June 22. We are being super paranoid about safety, so the date could shift. First Tesla that drives itself from factory end of line all the way to a customer house is June 28.' Elon Musk shares video of Tesla robotaxi prototype in Austin by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo Recently, Musk posted an eight-second video on X that showed Tesla's robotaxi prototype being tested on public roads in Austin. The clip showed a black Model Y SUV, marked with a 'Robotaxi' logo, navigating an intersection and pausing for pedestrians, without a human driver inside. Musk said the pilot phase will be limited, starting with 10 to 20 vehicles equipped with a new 'unsupervised' version of Tesla's Full Self-Driving (FSD) software. These initial tests will use the Model Y, rather than the upcoming CyberCab, which is scheduled for production next year. He added that the rollout will be 'geofenced,' meaning the robotaxis will only operate within specific areas, and Tesla employees will monitor them remotely. While some Tesla fans are excited by the launch in Austin, critics, particularly those concerned about road safety and Musk's political affiliations, have raised objections and are planning protests. Apple's HUGE iPhone makeover: iOS 26 & Liquid Glass Explained! AI Masterclass for Students. Upskill Young Ones Today!– Join Now
