Latest news with #Robotaxis
Yahoo
5 days ago
- Automotive
- Yahoo
Tesla is Paying Up to Keep Elon Musk's Eyes On the Road
First came the stick, now comes the carrot. A 24 karat gold carrot. After prominent Tesla shareholders earlier this year threatened to oust CEO Elon Musk if he couldn't give the electric vehicle firm more of his very divided attention, the company's board on Monday approved an interim stock award to Musk worth roughly $30 billion in a bid to keep his attention. It comes just as Tesla faces an endless obstacle course of roadblocks and speed bumps. READ ALSO: AMD Joins Chipmakers Struggling to Impress Traders With Upbeat Earnings and Trump's Moonshot Ignites Nuclear Stocks Rally Flat Tires During the company's second-quarter earnings report last month, Musk admitted the company may be headed for 'a few rough quarters.' In a chat Saturday with customers and retail investors, longtime Tesla engineering executive Lars Moravy was a smidge more optimistic, saying, 'We take big swings… We're in a big swing moment right now with autonomy, Robotaxis, with Optimus, and with Semi.' The company's EV business, on the other hand, looks like it's in a major downswing — not just ahead, but right now. On Monday, new preliminary data released by China's Passenger Car Association showed that Tesla delivered just 67,886 units from its massive Shanghai manufacturing gigafactory in July. That marks the sixth shipments decline in the past seven months, and an over 8% decrease year-over-year as the company continues to face steep competition from Chinese firms like Xiaomi and BYD. It's more evidence of an overall sales slump — total deliveries were down 14% year-over-year in the second quarter, while automotive revenue fell 16% year-over-year — a problem that looks likely to persist moving forward: Monday also delivered the news that the newest model of BMW's iX3, an electric SUV, will offer a driving range of about 497 miles with a maximum charging rate of 400 kilowatts — blowing away the Tesla Model Y's roughly 386-mile range and 250 kW charging rate. That makes BMW just the latest competitor to out-innovate Tesla in the battery department, and adds to the evidence that Tesla's Model Y refresh earlier this year didn't pack a big enough punch. The Model Y typically accounts for about two-thirds of Tesla's car sales; Cox Automotives estimates that Model Y sales in the US were down 15% year-over-year in the second quarter. Stay Awhile: In other words, Tesla shareholders have a lot of reason to hope Musk sticks around (Monday's compensation package only vests if he stays in an executive role for two more years, and compensates somewhat for the $56 billion pay package still stuck in Delaware court legal limbo). It seems that Tesla's board thinks of the company a lot like how a Florida jury last week thought of the company's Autopilot cars: Not quite ready to drive itself. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. 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
Leaders
02-08-2025
- Automotive
- Leaders
Saudi Arabia Rolls Out Robotaxi Service in Riyadh
Riyadh, Saudi Arabia's capital, has deployed a Robotaxi pilot fleet, developed by Chinese tech firm WeRide in collaboration with Uber and local partner AiDriver. WeRide has recently obtained Saudi Arabia's first Robotaxi autonomous driving permit, which allows it to operate self-driving vehicles business in the Kingdom and deploy Robotaxis across Saudi regions. Robotaxi in Riyadh This permit makes WeRide the only tech firm in the world that has autonomous driving permits in six countries: Saudi Arabia, China, the UAE, Singapore, France, and the US. On July 23, 2025, the Chinese company, in cooperation with Uber and AiDrive, launched its pilot operations across key locations in Riyadh, including at King Khalid International Airport, major highways and selected city center hubs. The Robotaxi service will have designated pick-up and drop-off stations to streamline travel to and from the airport. It will boost transport efficiency, sustainability, and safety across Riyadh, easing traffic congestion in the Saudi capital. The Robotaxi is set to expand into full-scale commercial service by the end of 2025. WeRide is the first company to get a permit for its Robotaxi in Saudi Arabia, after completing a rigorous approval process, including testing, assessments, and technology validation, to meet the highest safety and performance standards set by the Kingdom's Transport General Authority (TGA). Major Milestone The tech company received the permit during an official ceremony, with the participation of the Saudi Minister of Transport and Logistics Services and Chairman of the TGA, Saleh bin Nasser Al-Jasser, and CFO and Head of International at WeRide, Jennifer Li, alongside other Saudi senior officials. On this occasion, Li said: 'This permit marks a major step in our global expansion, enabling us to scale Robotaxi services and unlock new commercial opportunities in Saudi Arabia.' Meanwhile, the Saudi Transport Minister hailed the initiative. 'The pilot launch of autonomous taxi services reflects the kingdom's forward-looking vision and strategic investment in future mobility,' he said. 'This step reinforces our commitment to fostering innovation, enabling cutting-edge technologies, and creating a globally competitive, efficient, and sustainable transport sector that supports economic growth and enhances the quality of life for all,' Al-Jasser added. WeRide Services in Saudi Arabia In addition to Robotaxi, WeRide, which entered Saudi Arabia in May 2025, has been testing and operating Robobus service in key locations, such as King Fahad Medical City, Aramco residential communities, AlUla, and the Ritz-Carlton in Riyadh. It is also operating Robosweeper S1 at King Fahad Medical City, Riyadh Second Health Cluster, marking the first paid autonomous sanitation project in both Saudi Arabia and the wider Middle East. Short link : Post Views: 7
Politico
31-07-2025
- Automotive
- Politico
Elon Musk's Tesla hits a speed bump in its California ‘Robotaxi' rollout: Permits
Records also indicate no correspondence between Tesla and the DMV's autonomous vehicle branch from the start of 2025 to the spring, when Musk pivoted his focus to the Trump White House. Musk is trying to transform Tesla and sees a nationwide fleet of fully autonomous taxis and humanoid robots as the only ideas that will matter to his long-term business strategy. He took the first step in Austin, Texas last month, piloting $4.20 rides with a human in the front passenger seat under the 'Robotaxi' brand. But Tesla faces more hurdles to doing the same in California, where it lacks permits that would allow it to run any autonomous service, even with a safety driver, and to charge for it. Without those approvals, there can be no Robotaxi. Tesla scheduled two meetings with the California DMV this month, with the latest for last Thursday. Hours later, the DMV and another oversight body publicly warned the company against an unauthorized Robotaxi rollout in the San Francisco Bay Area, amid media reports of such plans. In both cases, Musk made a habit of dropping launch date targets just ahead of the calls. Two days before his team's first July meeting, the CEO posted on X that he was waiting on California regulators, despite not having submitted any recent applications. He gave a new timeline and location: 'a month or two' to bring Robotaxis to the Bay Area. Then, a day before the second DMV meeting this month, Musk spoke on an earnings call about his goal of getting permission for Robotaxi launches in the Bay Area, among other cities, by the end of the year. The term 'Robotaxi' was never used in obtained emails, letters and meeting invites exchanged between the company and the DMV's autonomous vehicle branch over the past year. Tesla and the employees mentioned in this story did not respond to requests for comment. Clearing the air The documents show moments where Tesla was on the back foot as it made appeals to the DMV. On April 10, Casey Blaine, Tesla's senior counsel of regulatory affairs, got in touch with the department to dispel a suggestion — made on social media by an unnamed employee — that it would introduce unsupervised, full self-driving in Los Angeles later this year — software for its cars to move autonomously without the need for human monitoring or intervention.
FACT
30-07-2025
- Automotive
- FACT
Robotaxi: Driverless vehicles launch in Riyadh
Saudi Arabia has created its first autonomous Robotaxi service. Developed by Chinese tech firm WeRide, in partnership with Uber and local collaborator AiDriver, a pilot fleet of Robotaxis has launched in Riyadh. The driverless vehicles are now operating on key routes across the capital, including locations such as King Khalid International Airport, major highways, and city centre areas. This is part of a pilot programme set to expand into full commercial service by the end of 2025. Transport Minister Saleh Al Jasser hailed the rollout as a demonstration of the Kingdom's strategic investment in next-generation mobility services. With AI-powered decision-making tools and real-time navigation systems, the Robotaxi offers a seamless, safe, and intelligent travel experience across the city. The Robotaxi service will feature designated pick-up and drop-off stations. The result is a convenient route for passengers to travel to and from the airport. These services will also cater to students and staff at Princess Nourah Bint Abdulrahman University. The aim is to enhance transport efficiency, sustainability, and safety across Riyadh's urban networks. Expansion plans include a commercial launch expected by late 2025, with full-scale service available through the Uber platform. Robotaxis are also expected to help ease traffic congestion in Riyadh. This strategic plan supports the diversification of the Kingdom's economy and the reduction of reliance on oil. By introducing AI-powered and autonomous vehicles, Saudi Arabia is positioning itself as a centre of advanced technology and smart infrastructure. Go: Visit for more information.
Business Insider
28-07-2025
- Automotive
- Business Insider
‘Momentum Meets Reality,' Says Barclays About Tesla Stock
Tesla (NASDAQ:TSLA) stock took a beating last Thursday, as Elon Musk's powers of persuasion might not be what they used to be. Despite the CEO's best efforts to convince investors that the company's future lies in its AI and Robotaxi initiatives, Wall Street focused instead on the EV leader's underwhelming Q2 results. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Those numbers left little room for optimism. Revenue fell by 11.8% year-over-year to $22.49 billion, missing the Street's $22.74 billion forecast. Operating income slid to $0.9 billion, a 42% drop from the year-ago quarter. The end result was adjusted EPS of $0.40, falling short of expectations by $0.03. But beyond the headline misses, what truly spooked investors were the signals about what lies ahead. Tesla now faces a growing list of challenges that could further weigh on performance. With the U.S. EV tax credit set to expire at the end of Q3, even Musk acknowledged that the company might endure a few 'rough quarters.' That outlook is further clouded by the impact of tariffs and legislative changes –particularly Trump's One Big Beautiful Bill, which eliminated penalties tied to NHTSA CAFE emissions standards. This change is expected to drag on high-margin regulatory credit sales. For Barclays analyst Dan Levy, what's become 'abundantly clear' for Tesla over the past couple of years – particularly in the last year – is the 'widening gulf between narrative and fundamentals, with the stock increasingly disconnected from fundamentals.' This quarter 'further reinforced that gulf.' Still, Musk isn't shying away from promoting the bigger vision. He reiterated that Tesla's future reaches far beyond cars, spotlighting AI and robotics as the company's next frontier. From Robotaxis and Optimus to a newly envisioned 'master plan' for a post-autonomy world, the CEO painted a picture of a company leading the charge in real-world AI. Musk even floated the idea of closer collaboration with xAI to bolster Tesla's technological edge. 'Alongside comments of expansion in Robotaxi,' says Levy, 'we believe the narrative remains intact.' However, a compelling narrative can only do so much when fundamentals are shaky. As Levy pointed out, Tesla's core business remains choppy, and could worsen in the quarters ahead. Even the anticipated low-cost model, now likely arriving in Q4, may underwhelm if it's merely a simplified Model Y with limited appeal. In the end, the earnings call seemed tailored to reassure long-term believers in Tesla's AI potential rather than to win over skeptics focused on near-term performance. The lack of new detail on Robotaxi progress didn't help, though bulls may pin their hopes on the upcoming AGM in November, which could reinforce the AI story. 'It is the long-term narrative which has kept the stock elevated,' Levy noted. 'Yet for the very near term, the air pocket in fundamentals may be a reminder that fundamentals don't matter… until they matter.' Judging by the market's reaction, that moment may be arriving. For now, Levy assigns Tesla shares an Equal Weight (i.e., Neutral) rating, with a $275 price target, implying potential downside of 13% from current levels. (To watch Levy's track record, click here) Looking beyond Levy, sentiment across Wall Street remains divided. TSLA stock holds a consensus rating of Hold, based on 14 Buys, 14 Holds, and 7 Sells. The average price target of $314.14 suggests shares will stay rangebound for the time being. (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.
