Latest news with #Cybercab
Business Times
9 hours ago
- Automotive
- Business Times
Tesla targets June 12 launch of robotaxi service in Austin
[SAN FRANCISCO] Tesla is poised to begin its long-awaited robotaxi service in Austin on Jun 12, according to a source familiar with the matter, a milestone in Elon Musk's plan to reshape the company around driverless vehicles and artificial intelligence. The previously unreported date was discussed internally and could still change, said the source, asking not to be identified because the information is private. Musk has previously said the service would begin by the end of June. In preparation for the launch, the company this week operated a test vehicle on public roads in Austin with no one in the driver's seat for the first time, according to the source. A Tesla engineer was riding in a passenger seat of a Model Y SUV, which drove autonomously with no remote operation, the source said. Tesla did not immediately respond to requests for comment. The planned start of autonomous service builds upon testing that the electric vehicle maker has been doing recently with safety drivers around the city, carrying employees ahead of the public rollout. Musk, Tesla's chief executive officer, has said robotaxi service – initially using consumer models before eventually incorporating a purpose-built vehicle known as Cybercab – will be central to Tesla's business in the future. Its shares rose 1.1 per cent as of 4.09 pm after regular trading in New York. The stock declined 12 per cent this year to Wednesday's close. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The company demonstrated the Cybercab at a flashy event last year in California, giving attendees rides in prototypes of the vehicle, which will have no steering wheel or pedals. But the routes were on private land, sidestepping permitting requirements. Texas, where Tesla is headquartered, has relatively relaxed rules around autonomous driving, which is regulated much like any other type of passenger vehicle operation. The driverless vehicles are required to have cameras and be able to follow traffic laws and have insurance. The Texas Department of Licensing and Regulation, which regulates rideshare services, does not currently list Tesla as a rideshare licensee. The city of Austin does not regulate self-driving vehicles, but has set up a task force that coordinates with Tesla and other autonomy companies. The state capital has become a focal point for the growing robotaxi industry, with companies such as Alphabet's Waymo already operating there. Tesla vehicles with manufacturer plates have become a frequent sight in the south and southeast portions of the city as the company has expanded testing with safety drivers. Musk said this month that Tesla would initially roll out a fleet of about 10 self-driving robotaxis in Austin before expanding to a thousand vehicles within a few months. BLOOMBERG
Yahoo
10 hours ago
- Automotive
- Yahoo
Tesla stock rises on robotaxi service launch plans
-- 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. Related articles Tesla stock rises on robotaxi service launch plans Musk opposed Abu Dhabi AI data center deal that he thought favors Altman, says WSJ Trump orders U.S. firms to halt chip software sales to China, says FT
Yahoo
a day ago
- Automotive
- Yahoo
Elon Musk pledges his own RTO as Tesla sales continue to weaken
Tesla (TSLA) CEO Elon Musk's latest pledge for his own RTO (return to office) comes as more negative data emerges. Per the European Automobile Manufacturers Association (ACEA), Tesla EV registrations (a proxy for sales) in Europe fell a whopping 49% in April compared to a year ago, to 14,228. Meanwhile, overall EV registrations in the region (which includes the UK and the European Free Trade Association) rose 34.1% in April, with overall registrations down 0.3%. Tesla's April drop marks its fourth straight down month in Europe, while other reports show EVs from Volkswagen, BMW, and China's BYD making gains. In a further sign of demand weakness, April's registration results include Tesla's newly refreshed Model Y, its bestselling vehicle that should have seen a sales bump due to new features. Tesla shares closed up nearly 7% as President Trump once again backed off tariff threats, this time focused on the European Union. Tesla's sales tumble in Europe comes after the company reported sliding first quarter sales, its worst quarter for deliveries since the second quarter of 2022. But Musk's latest communique via his X platform indicates he's serious about leaving Washington, where he nominally led the controversial Department of Government Efficiency (DOGE), and performing his own RTO: back to Tesla, SpaceX, and X. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' he said in part following an X outage, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' In addition to the Starship launch and SpaceX update that he's giving later on Tuesday, Tesla itself is gearing up for crucial robotaxi trials in Austin, starting at the end of July. Musk and Tesla have bet the future of the company on self-driving and the ability for its cars to perform robotaxi services. Tesla's dedicated robotaxi — the Cybercab — is slated for a 2026 launch as well. And Tesla's long-awaited, more affordable EVs are expected to be revealed in the first half of the year. Musk's return to work has been teased since April, when he said his time in D.C. would be dropping. "Starting early next month, in May, my time allocation to DOGE will drop significantly," Musk told investors on Tesla's Q1 earnings call. But reports showed Musk was still spending time in D.C. in April. Last week, during two separate interviews with Bloomberg and CNBC, Musk reiterated his rededication to his companies. He also said he sees himself in the Tesla CEO chair for at least the next five years. Investors cheered the news of Musk fully returning, though some believe the damage may already have been done, and part of that lies with product decisions that Musk himself spearheads. 'We view Elon's announcement that he will return 24/7 to $TSLA X and xAI as a non-event since it won't likely change TSLA's declining delivery trajectory,' Future Fund managing partner and Tesla investor Gary Black said on X on Monday. Black added, 'We remain concerned the new more affordable TSLA model due out in 3Q will be a scaled-down Model 3 or Model Y that is not a new form factor and therefore will not increase TSLA TAM.' Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
Yahoo
2 days ago
- Automotive
- Yahoo
Elon Musk pledges his own RTO as Tesla sales continue to weaken
Tesla (TSLA) CEO Elon Musk's latest pledge for his own RTO (return to work) comes as more negative data emerges. Per the European Automobile Manufacturers Association (ACEA), Tesla EV registrations (a proxy for sales) in Europe fell a whopping 49% in April compared to a year ago, to 14,228. Meanwhile, overall EV registrations in the region (which includes the UK and the European Free Trade Association) rose 34.1% in April, with overall registrations down 0.3%. Tesla's April drop marks its fourth straight down month in Europe, while other reports show EVs from Volkswagen, BMW, and China's BYD making gains. In a further sign of demand weakness, April's registrations results include Tesla's newly refreshed Model Y, its best-selling vehicle that should have seen a sales bump due to new features. Tesla shares were higher in early trade as President Trump once again backed off tariff threats, this time focused on the European Union. Tesla's sales tumble in Europe comes after the company reported sliding first quarter sales, its worst quarter for deliveries since the second quarter of 2022. But Musk's latest communique via his X platform indicates he's serious about leaving Washington, where he nominally led the controversial Department of Government Efficiency (DOGE), and performing his own RTO: back to Tesla, SpaceX, and X. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' he said in part following an X outage, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' In addition to the Starship launch and SpaceX update that he's giving later on Tuesday, Tesla itself is gearing up for a crucially important robotaxi trials in Austin, starting at the end of July. Musk and Tesla have bet the future of the company on self-driving and the ability for its cars to perform robotaxi services. Tesla's dedicated robotaxi — the Cybercab — is slated for a 2026 launch as well. And Tesla's long-awaited more affordable EVs are expected to be revealed in the first half of the year. Musk's return to work has been teased since April, when he said his time in DC would be dropping. "Starting early next month, in May, my time allocation to DOGE [Department of Government Efficiency] will drop significantly," Musk told investors on Tesla's Q1 earnings call. But reports showed Musk was still spending time in DC in April. Last week during two separate interviews with Bloomberg and CNBC, Musk reiterated his rededication to his companies. He also said he sees himself in the Tesla CEO chair for at least the next 5 years. Investors cheered the news of Musk fully returning, though some believe the damage may already have been done, and part of that lies with product decisions - that Musk himself spearheads. 'We view Elon's announcement that he will return 24/7 to $TSLA X and xAI as a non-event since it won't likely change TSLA's declining delivery trajectory,' Future Fund managing partner and Tesla investor Gary Black said on X on Monday. Black added: 'We remain concerned the new more affordable TSLA model due out in 3Q will be a scaled-down Model 3 or Model Y that is not a new form factor and therefore will not increase TSLA TAM.' Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram.
Yahoo
2 days ago
- Automotive
- Yahoo
Elon Musk pledges his own RTO as Tesla sales continue to weaken
Tesla (TSLA) CEO Elon Musk's latest pledge for his own RTO (return to work) comes as more negative data emerges. Per the European Automobile Manufacturers Association (ACEA), Tesla EV registrations (a proxy for sales) in Europe fell a whopping 49% in April compared to a year ago, to 14,228. Meanwhile, overall EV registrations in the region (which includes the UK and the European Free Trade Association) rose 34.1% in April, with overall registrations down 0.3%. Tesla's April drop marks its fourth straight down month in Europe, while other reports show EVs from Volkswagen, BMW, and China's BYD making gains. In a further sign of demand weakness, April's registrations results include Tesla's newly refreshed Model Y, its best-selling vehicle that should have seen a sales bump due to new features. Tesla shares were higher in early trade as President Trump once again backed off tariff threats, this time focused on the European Union. Tesla's sales tumble in Europe comes after the company reported sliding first quarter sales, its worst quarter for deliveries since the second quarter of 2022. But Musk's latest communique via his X platform indicates he's serious about leaving Washington, where he nominally led the controversial Department of Government Efficiency (DOGE), and performing his own RTO: back to Tesla, SpaceX, and X. 'Back to spending 24/7 at work and sleeping in conference/server/factory rooms,' he said in part following an X outage, adding that he 'must be super focused on 𝕏/xAI and Tesla (plus Starship launch next week), as we have critical technologies rolling out.' In addition to the Starship launch and SpaceX update that he's giving later on Tuesday, Tesla itself is gearing up for a crucially important robotaxi trials in Austin, starting at the end of July. Musk and Tesla have bet the future of the company on self-driving and the ability for its cars to perform robotaxi services. Tesla's dedicated robotaxi — the Cybercab — is slated for a 2026 launch as well. And Tesla's long-awaited more affordable EVs are expected to be revealed in the first half of the year. Musk's return to work has been teased since April, when he said his time in DC would be dropping. "Starting early next month, in May, my time allocation to DOGE [Department of Government Efficiency] will drop significantly," Musk told investors on Tesla's Q1 earnings call. But reports showed Musk was still spending time in DC in April. Last week during two separate interviews with Bloomberg and CNBC, Musk reiterated his rededication to his companies. He also said he sees himself in the Tesla CEO chair for at least the next 5 years. Investors cheered the news of Musk fully returning, though some believe the damage may already have been done, and part of that lies with product decisions - that Musk himself spearheads. 'We view Elon's announcement that he will return 24/7 to $TSLA X and xAI as a non-event since it won't likely change TSLA's declining delivery trajectory,' Future Fund managing partner and Tesla investor Gary Black said on X on Monday. Black added: 'We remain concerned the new more affordable TSLA model due out in 3Q will be a scaled-down Model 3 or Model Y that is not a new form factor and therefore will not increase TSLA TAM.' Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram. 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
