Latest news with #Robotaxis
Bloomberg
2 hours ago
- Business
- Bloomberg
Uber CEO Shares Updates on an Autonomous Future
Uber CEO Dara Khosrowshahi unpacks his strategy for the company's future while refining new technologies and Robotaxis on the cusp of the autonomous revolution with Bloomberg's Tom Giles at Bloomberg Tech in San Francisco. (Source: Bloomberg)
Yahoo
18 hours ago
- Automotive
- Yahoo
Prediction: Tesla Stock Won't Recover in 2025 (And Insiders Seem to Agree)
Two company insiders sold a combined $200 million in Tesla stock. Tesla's Robotaxi service faces increased competition, and the company recently reported a sharp decline in vehicle deliveries. Shares of Tesla are trading at a steep premium to their historical valuation. These 10 stocks could mint the next wave of millionaires › Between Tesla (NASDAQ: TSLA) failing to meet the deadlines that Elon Musk sets and Musk's decision to split his time at Tesla with various other endeavors, many investors are losing confidence and questioning whether the stock can recover from its plunge in 2025. But the actions of Tesla insiders are providing a clear indication. Two insiders have sold company stock -- a development that represents a glaring yellow light for those with shares of Tesla parked in their portfolios. From Cathie Wood, who thinks Tesla stock will soar to $2,600 over the next five years, to analysts at Wedbush, which has a $500 price target, plenty see Tesla stock driving in the right direction. Some (like Wood) think the launch of Tesla's Robotaxi business, a fully autonomous ride-hailing network, will be a considerable boon for the company. Musk claims the company is making steady progress toward launching the service, providing some insight in a recent post on X: Others are encouraged by the news that Musk has chosen to refocus his attention on Tesla. Shares jumped on Thursday morning, for example, after investors learned that Musk had announced that he will be stepping back from his role in the Trump administration. At this point, I'm unconvinced of the bulls' viewpoint. The argument that the company's Robotaxi business will soon drive significant growth seems overblown. While the company has started testing driverless Robotaxis in Austin, there has been significant damage to the Tesla brand, and customers' eagerness to embrace Tesla's Robotaxi service doesn't seem as strong a possibility as it did just last year. Plus, there is stiff competition from companies providing their own self-driving taxi services. In addition to Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Waymo and General Motors' (NYSE: GM) Cruise, Tesla faces competition from private companies like Wayve. Another pothole in Tesla's road to recovery is the company's declining deliveries. In Q1 2025, Tesla reported deliveries of 336,681 vehicles, representing a 13% year-over-year decline. While there have been court rulings deeming President Trump's tariffs unlawful, it's not clear what the future will bring. Also, customer demand may have been diverted by other electric car options. Investors look all over for insight, but one thing they're particularly sensitive to is the trading activity of company insiders. When insiders buy stock, for instance, it's a pretty clear indication that they expect shares to rise in the near future. On the other hand, when they sell stock, it may mean that they see shares dipping in the near future. Two prominent insiders have chosen to sell significant stakes of Tesla stock this week. Ira Ehrenpreis, who has served on the board of directors since 2007, sold 477,572 shares in a transaction valued at about $162,059,282, and Kimbal Musk, Elon's brother and one of the largest individual Tesla shareholders, sold 91,588 shares, totaling about $31,079,472. Neither Ehrenpreis nor Kimbal Musk has offered an explanation, but it's possible the Robotaxi service isn't in such good shape as Elon suggests. For some, there's not much more reading of tea leaves needed. Tesla's falling sales, the uncertainty around its Robotaxi service, and the recent insider transactions are all the material they need to decide it's best to watch Tesla stock from the side of the road. For those still on the fence, there's also the stock's price tag. Shares are changing hands at 185 times forward earnings, a steep premium to the five-year average P/E of seems clear that it's best to keep Tesla stock at arm's length for the time being. 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 $366,219!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,589!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $656,825!* 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 2, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Tesla. The Motley Fool recommends General Motors. The Motley Fool has a disclosure policy. Prediction: Tesla Stock Won't Recover in 2025 (And Insiders Seem to Agree) was originally published by The Motley Fool
CairoScene
2 days ago
- Business
- CairoScene
WeRide Brings Robotaxis to Saudi Arabia in Testing Phase
China-based autonomous driving firm WeRide begins testing in Riyadh and AlUla ahead of a full rollout in 2025. Jun 03, 2025 China-based autonomous driving company WeRide has officially launched Robotaxi testing in Saudi Arabia, beginning in Riyadh and AlUla, as part of its growing global rollout. The move builds on WeRide's earlier driverless trials in Abu Dhabi and ties into its broader plans to scale operations across 15 global cities through a partnership with Uber. In Saudi Arabia, the expansion aligns with national goals to accelerate smart mobility and digital infrastructure as part of Vision 2030. With the Kingdom targeting $110.1 billion in tourism revenue by 2033, demand for high-tech and sustainable transport solutions continues to grow. WeRide's fleet—ranging from Robotaxis to Robobuses—is designed to support this shift by easing congestion, improving road safety, and offering low-emissions alternatives for everyday transit. The pilot is being supported by Saudi Arabia's Transport General Authority, with commercial Robotaxi services expected to launch on the Uber platform in the coming months. Full-scale operations are slated for late 2025, marking another milestone in the region's drive to lead in next-generation mobility solutions.
Yahoo
3 days ago
- Business
- Yahoo
PONY AI Inc. Reaches Strategic Partnership with Xihu Group for Robotaxi Deployment in Shenzhen
SHENZHEN, China, June 02, 2025 (GLOBE NEWSWIRE) -- Pony AI Inc. (' or the 'Company') (Nasdaq: PONY), a global leader in achieving large-scale commercialization of autonomous mobility, today announced a strategic partnership with Shenzhen Xihu Corporation Limited ('Xihu Group'), the city's largest taxi operator, to jointly deploy a fleet of more than 1,000 seventh-generation ('Gen 7') Robotaxis in Shenzhen in the coming years. This partnership marks a significant milestone in integrating autonomous driving with local mobility networks by adopting an "asset-light + AI-empowered model", accelerating the large-scale deployment of safe, efficient, and intelligent mobility services to a broader passenger base in tier-one cities in China. Xihu Group has extensive experience in fleet management with decades of experience in taxi fleet operation, local regulatory compliance and services and maintenance network, playing a crucial role in enabling to scale up Robotaxi services. By integrating Xihu Group's expertise with proprietary hardware-and-software technology, AI-powered order dispatch capability and deep understanding of user needs, both parties will work together to deliver a seamless autonomous mobility experience. Under the terms of the agreement, and Xihu Group will jointly deploy more than 1,000 Gen 7 Robotaxis in Shenzhen in the coming years. In addition, it is expected to be further empowered by an "asset-light + AI-empowered model", wherein Xihu Group will leverage its strength on fleet and asset operations, safety and service guarantees, and benefit economically from the fleet and asset operations. Meanwhile, will focus on AI technology innovations and scalable Robotaxi dispatch and service, creating a mutually beneficial outcome and accelerating the large-scale development. As the first company authorized to operate paid fully-driverless robotaxis within Shenzhen's city centers, has proven technical capabilities in navigating complex urban environments including tunnels, dense traffic, and irregular intersections. Going forward, will continue collaborating with more transportation service providers, automakers and third-party partners to promote mass deployment of autonomous mobility. About Pony AI Inc. Pony AI Inc. is a global leader in achieving large-scale commercialization of autonomous mobility. Leveraging its vehicle-agnostic Virtual Driver technology, a full-stack autonomous driving technology that seamlessly integrates proprietary software, hardware, and services, is developing a commercially viable and sustainable business model that enables the mass production and deployment of vehicles across transportation use cases. Founded in 2016, has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology. For more information, please visit: About Shenzhen Xihu Corporation Limited Established in 1979, Shenzhen Xihu Corporation Limited is a large-scale comprehensive group with transportation as its main business, cultural tourism real estate and financial capital operation, integrating transportation, industry, trade, tourism, real estate, education and environmental protection industrial parks. Xihu Group is renowned in the Shenzhen industry for its high-quality service and standardized management, well-known as a pure electric taxi operator. Currently, it has nearly 5,000 electric taxis. Safe Harbor Statement This press release contains statements that may constitute 'forward-looking' statements pursuant to the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'aims,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'likely to,' and similar statements. Statements that are not historical facts, including statements about beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in filings with the SEC. All information provided in this press release is as of the date of this press release, and does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: RelationsEmail: ir@ RelationsEmail: media@ Christensen AdvisoryEmail: pony@ in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Two words keep cropping up with Elon Musk's business promises: ‘Next year'
Elon Musk has repeatedly made promises that don't come to fruition when it comes to his multibillion-dollar businesses. The world's richest man is accused of overpromising the timeline for everything from Tesla's Full Self Driving vehicles, affordable cars, and Robotaxis to humans landing on Mars. 'Next year' has become a firm favorite for Musk, who has been distracted lately by cutting and dismantling federal agencies through the Department of Government Efficiency on behalf of President Donald Trump. Musk recently announced he is stepping back from frontline politics and taking his vast wealth with him after Tesla's earnings took a hit in April, dipping 71 percent in profits. It was a wake-up call for Musk, who vowed to refocus on his businesses and leave Washington, D.C and the trail of destruction behind. While his investors may be pleased that his chainsaw-wielding, cheese-hat-wearing days are over for now, they are also likely 'frustrated' by all of the times Musk's predictions have fallen flat, WIRED reports. 'My predictions have a pretty good track record,' Musk told Tesla staff in March, but WIRED found otherwise in an assessment of all the times his predictions were wrong. In October 2015, Musk promised Tesla 'will have a car that can do full autonomy in about three years.' He then amended that deadline in January 2016 to be 'within two years.' In June 2016, Musk even claimed he considered 'autonomous driving to be a basically solved problem,' WIRED noted. 'We're less than two years away from complete autonomy,' he said in the familiar statement. But the deadline consistently kept slipping. In November 2018, he told tech journalist and podcast host Kara Swisher: 'I think we'll get to full self-driving next year.' Five years later, in May 2023, Musk told CNBC that 'it looks like' autonomous driving is 'gonna happen this year.' Two months later, he acknowledged he is 'the boy who cried FSD.' On an earnings call last month, Musk repeated the prediction yet again. 'I feel confident in predicting large scale autonomy around the middle of next year,' he said. 'There will be millions of Teslas operating autonomously, fully autonomously in the second half of next year.' Similarly, Musk predicted his long-awaited robot taxi would be on the road by mid-2020. 'Next year for sure, we'll have over a million robotaxis on the road,' he said in April 2019. Five years on, Tesla's robotaxi service will be on the streets of Austin, Texas by the end of June, Musk pledged last week. There is also no confirmed date yet for the launch of Tesla's Optimus robots, which Musk said would be able to 'clean your house, will mow the lawn, will walk the dog, will teach your kids, will babysit.' At an earnings call two months ago, he claimed: 'I'm hopefully ready for Optimus to be used outside of Tesla controlled environment maybe around the middle of next year second half of next year.' Musk also predicted humans could step onto Mars by 2024, which he called in December 2020 in an interview with Business Insider. 'When will we see the first human on Mars?' the billionaire was asked. 'Most likely six years from now, possibly four years,' Musk said. He first pledged in 2006 to deliver an affordably priced family car, which is now delayed until 2026, according to Reuters. 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
