Latest news with #Self-Driving
Yahoo
a day ago
- Automotive
- Yahoo
Tesla loses $150bn in market value amid Trump-Musk feud
Tesla experienced a market value loss on Thursday, with shares plunging 14%, translating to a staggering $150bn wiped from the company's valuation. This sharp decline followed a public row between US President Donald Trump and Tesla CEO Elon Musk, a situation that has alarmed investors and traders alike. The feud, which played out over social media, centred on criticisms of the president's tax bill and its impact on electric vehicle (EV) tax benefits. The conflict between Trump and Musk escalated quickly, with Musk's social media posts criticising the president's policies, prompting a sharp response from Trump. Trump alleged that Musk was disgruntled due to the tax bill's removal of EV purchase incentives. This public disagreement has raised concerns about potential regulatory and operational challenges for Tesla, especially as the US Transportation Department has considerable influence over vehicle design standards and is currently investigating Tesla's "Full Self-Driving" software. Tesla's strategy has shifted towards self-driving robotaxis, with Musk emphasising their importance to the company's future. Analysts from Wedbush have suggested that the AI and autonomous driving sector could add up to $1tn in market value for Tesla. However, the company's reliance on camera-based detection, as opposed to the industry-standard radar and lidar sensors, could become a regulatory sticking point. The stock has seen volatile movements since Musk's endorsement of Trump's re-election campaign in mid-2024, including a significant rally followed by a sharp downturn as a "Tesla Takedown" protest gained momentum. Sales have dipped in major markets, including Europe, China, and California, partly due to Musk's political alignments. The House of Representatives' version of Trump's budget bill could further impact Tesla by proposing an end to the $7,500 EV subsidy by the end of 2025. "Tesla loses $150bn in market value amid Trump-Musk feud" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
21-05-2025
- Automotive
- Yahoo
Here's what Elon Musk said about Tesla robotaxi and Optimus during his media blitz
In a media blitz, Elon Musk said Tesla would roll out robotaxis in June using a "prudent" approach. Musk aims for rapid Optimus robot production, predicting one million units a year by 2030. Investor response remains lukewarm, and Musk has been wrong about his ambitious timelines before. Elon Musk went on a media blitz to share plans on new robotics benchmarks and reiterate his commitment to Tesla. The Tesla CEO spoke briefly with Microsoft CEO Satya Nadella at the Microsoft Build conference on Monday, made a remote appearance at Bloomberg's Qatar Economic Forum, and appeared on CNBC twice on Tuesday. At the Qatar Economic Forum, Musk said he is committed to leading Tesla for at least five more years, and said robotaxis will be rolled out in June as previously planned. "Yes, no doubt about that at all," Musk said during a video call when asked about his leadership. Tesla shares remained mostly unchanged after markets closed Tuesday, but they rebounded in May compared to previous months after Musk said he would scale back his involvement with DOGE on April 22. However, Tesla shares are still down in 2025 thus far, following revenue and income declines in Q1. Representatives for Tesla did not respond to a request for comment from Business Insider. Here are the main takeaways on robotics from Musk's interviews. Musk was asked about Tesla's Full Self-Driving Supervised software running a red light during a test drive by BI reporters and stressed the slow rollout of robotaxis for safety reasons "I think it's prudent for us to start with a small number, confirm that things are going well, and then scale it up proportionate to how well we see it's doing," Musk told CNBC host David Faber. Musk said they are now testing robotaxis "driving 24/7 with drivers in the cars" with "essentially no interventions," but he prefers caution because it would be "the first introduction of unsupervised full self-driving." "We want to deliberately take it slow," Musk added. "We could start with 1,000 or 10,000 on day one, but I don't think that would be prudent. So we will start with probably 10 for a week, then increase it to 20, 30, 40." Musk said that the goal would be to have 1,000 robotaxis within a few months in Austin, before expanding the operation to other cities like Los Angeles and San Antonio. Though Musk did not directly address BI's reporting that the FDS made a critical error, he said Tesla's robotaxis will be geo-fenced to select areas of Austin. Alphabet's Waymo also limits its autonomous cars to specific zones. "It's not going to take intersections unless we are highly confident," Musk told Faber. "Or it will just take a route around that intersection." Musk is expecting to scale up the use of humanoid robots quickly. "We expect to have thousands of Optimus robots working in Tesla factories by the end of this year, beginning this fall," Musk told Faber on CNBC, "And we expect to scale Optimus up faster than any product, I think, in history, to get to millions of units per year as soon as possible." "I think we feel confident in getting to one million units per year in less than five years, maybe four years. So by 2030, I feel confident in predicting one million Optimus units per year — it might be 2029," Musk added. Musk told Faber that Optimus will also be the "biggest product ever" with "insatiable" demand because "everyone" would want one. "It's going to take a lot of compute resources and it'll take time," said Musk when asked what it would take to train a robot, "I think there's certain threshold breakthroughs that we think we can achieve." In a short conversation with Microsoft CEO Nadella, Musk also reiterated that all kinds of robotics, including robotaxis and the humanoid robot Optimus, need to be "grounded in reality." "As you mentioned with the car, it needs to drive safely and correctly. The humanoid robot Optimus needs to perform the task that it's being asked to perform," Musk told Nadella. Musk's media blitz generated a lukewarm response from investors. Tesla shares rose around 0.5% at market closing on Tuesday compared to the day before, but stocks began to dip in the after-hours. Musk has teased his plan to bring humanoid robots to market for years. In 2021, a dancing actor in a body suit gave us our first look at Optimus, also known as Tesla Bot. By 2022, a rough prototype was up and walking at the company's Artificial Intelligence Day event. In October 2024, Business Insider's Hasan Chowdhury reported that Tesla's robotics technology has advanced since its early days. Chowdhury reported that Optimus prototypes at last year's Tesla's robotaxi day played rock-paper-scissors with the audience, poured drinks, and danced, though some attendees thought the bots were controlled by human operators. As far as the timeline goes, Musk said in a post on X last July that Tesla would have "genuinely useful humanoid robots in low production for Tesla internal use next year," and larger-scale production enabling sales to other companies by 2026. Now, midway through 2025, large-scale production has not yet been announced, but in the company's Q1 2025 Update letter, Tesla said it is "on track" for its builds of Optimus on its Fremont pilot production line in 2025, "with wider deployment of bots doing useful work across our factories." Musk has been wrong about timelines before. In 2018, he acknowledged that he tends to be overly optimistic about when his creations will come to market. In some instances, consumers are still waiting for his promises to come to fruition. In 2019, Musk said Tesla would deploy over one million robotaxis by the end of 2020. While that hasn't yet materialized, the planned debut of its robotaxi service in Austin later this year gets Tesla a small step closer to that goal. Still, if Tesla's robotics division manages to deliver on all it has promised with Optimus and its other applications, it'd be a major boon for the company — and its investors. Tesla bull and Wedbush Securities analyst Dan Ives has predicted that robotaxis will be a game changer for Tesla, and estimated that it could become a $2 trillion company within the next two years. Ives told CNBC on Tuesday that he believes 90% of Tesla's future value lies in its autonomous vehicle software and robotics division. 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Yahoo
14-05-2025
- Automotive
- Yahoo
Elon Musk's Tesla Teases FSD Capabilities Ahead Of June Robotaxi Event
Tesla Inc. (NASDAQ:TSLA) has touted the company's FSD (Full Self-Driving) technology ahead of next month's Robotaxi launch in Austin, Texas. What Happened: A video posted by a handle on X called Whole Mars Catalog showcased a Tesla vehicle navigating its way through traffic using Supervised FSD near Los Angeles's LAX airport on Saturday. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Tesla's official handle on X then quoted the video on Sunday. "LAX is no problem for FSD Supervised," the EV giant said in the post. The post was also reposted by Tesla CEO Elon Musk. Why It Matters: As Musk's EV giant is gearing itself up for the launch of its robotaxi in Austin, the company has hit a snag as the U.S. Patent and Trademark Office refused to grant the company trademarks on "Robotaxi" as well as "Cybercab." Elsewhere, Tesla asked its workers to stay at home as the company extended the Memorial Day break amid a 13% drop in deliveries and inventory piling up at Tesla dealerships. On the other hand, the EV manufacturer continues to wrestle with poor sales figures both within the U.S. as well as in regions like Europe. Recently, the company also offered free FSD transfers for its customers on all of its models in a bid to boost sales. However, analysts are still optimistic about Musk's company's future as analyst Gary Black believes that Tesla will reap the benefits of increased EV adoption as well as autonomous driving. Read Next: Hasbro, MGM, and Skechers trust this AI marketing firm — Invest before it's too late. 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share with a $1000 minimum. Image Via Shutterstock Send To MSN: Send to MSN UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Elon Musk's Tesla Teases FSD Capabilities Ahead Of June Robotaxi Event originally appeared on 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
Time of India
25-04-2025
- Automotive
- Time of India
WATCH: Tesla FSD's unexpected detour goes viral, even Elon Musk joins the fun
In a world where self-driving cars are becoming more common, one Tesla owner 's lighthearted experiment took an unexpected turn, and it's now making the internet laugh. Trying out Tesla's Full Self-Driving (FSD) feature, the man expected his car to pick a random destination for a fun little ride. Tired of too many ads? go ad free now But instead of somewhere new or exciting, the car chose a familiar spot: the gym. The unexpected detour had both him and his wife laughing, and the video of the moment quickly went viral. Even Tesla CEO couldn't resist reacting to the clip, adding to the fun online. Zach Jenkins, a Tesla owner from the U.S., decided to test his car's Full Self-Driving feature by asking it to 'take me somewhere I've never been before.' Expecting the car to pick out a new restaurant or perhaps a scenic spot, Jenkins was instead dropped off at a local gym. The entire situation was captured in a video by his wife, Hailee, and shared on social media. What began as a simple test turned into an amusing, unexpected adventure. As the video spread across social media platforms, it didn't take long for Elon Musk to notice it. The Tesla CEO, known for his active social media presence, shared a laughing emoji in response to the video. Musk's lighthearted reaction only fueled the viral nature of the moment, and the clip became a favourite among Tesla fans and casual viewers alike. While the video gave everyone a good laugh, it also highlights where Tesla's Full Self-Driving (FSD) tech currently stands. Despite the name, the system isn't fully autonomous just yet. It's considered Level 2 driver assistance, meaning it can steer, brake, and accelerate on its own– but the driver still needs to stay alert and be ready to take over at any time. In Jenkins' case, the car took his request for 'somewhere new' a bit too literally, choosing a gym instead of a nice spot to eat. His experience adds to a growing list of quirky FSD moments shared by Tesla users over the years. While these stories are often fun, they also point out that the technology, while impressive, still has some way to go.
Zawya
22-04-2025
- Automotive
- Zawya
Tesla investors await details on affordable electric car, plans to boost sales
Tesla investors are anxious to know if plans to roll out a cheaper car and a robotaxi service this year are on track, and whether CEO Elon Musk is ready to ditch his role in the Trump administration soon and get back to managing the company more closely. The electric vehicle maker is scheduled after market close on Tuesday to provide what is likely to be its most important update on operations since the launch of its Model 3 vehicle in 2017. Tesla said earlier this month that it would "hold a live company update" along with its results and the question and answer webcast, sparking speculation on social media that it might make a major announcement. Analysts are expecting a bad first quarter, based on recent indicators. Deliveries in the January-March period slid 13%, as the company lost ground to Chinese rivals, and Musk's political actions as a close adviser to U.S. President Donald Trump have damaged the brand. Tesla has faced protests, vandalism, and consumer calls for boycotts in several markets, and sales in China and California - its largest U.S. market - have fallen sharply as well. Some investors have taken a more sour view of the one-time Wall Street darling. The company's stock, which closed at $227.42 on Monday, has nearly halved from its December peak. Tesla's key automotive gross margin, excluding regulatory credits, likely fell to 11.8% in the period, according to 21 analysts polled by Visible Alpha, down from 13.6% in the fourth quarter. Analysts expect the downward trend to continue if Tesla continues to prioritize volume growth over profitability. 'Tesla comes into results as arguably the most scrutinized company in the world," said Matt Britzman, senior equity analyst at Hargreaves Lansdown. "That's not really a position investors want to be in, and there'll be a lot of focus on whether Elon Musk gives any indication of when he might be stepping back from DOGE," said Britzman, who personally holds Tesla stock. DOGE is short for the Musk-led Department of Government Efficiency. The EV maker scrapped plans for a brand-new, low-cost model last year, opting instead to produce cheaper variants using existing platforms and assembly lines. Reuters reported exclusively on Friday that Tesla delayed plans to start production of a more affordable Model Y crossover by at least a few months. Musk promised driverless ride-hailing services to the public in Texas by June, and in California for later this year. To that end, Tesla has been seeking regulatory approvals, but there are serious concerns about safety and related litigation risks that could come with deploying unproven driverless technology on public streets. Analysts expect a second straight annual decline in Tesla deliveries in 2025, despite efforts to boost sales through incentives like free charging and Full Self-Driving features. Revenue was likely flat from a year ago at $21.35 billion, supported by gains in regulatory credits and growth in Tesla's energy storage business. Tesla also recalled all Cybertrucks delivered since late 2023 and launched a lower-priced $70,000 version of the vehicle. It has been discounting unsold inventory of the electric pickup truck in recent weeks. Tariff tensions add further uncertainty. Tesla has paused some China-sourced component imports after U.S. tariffs on the Asian country rose to 145%, Reuters reported. China has responded with tariffs of its own, leading Tesla to suspend new Model S and X orders in the country. (Reporting by Akash Sriram in Bengaluru and Abhirup Roy in San Francisco; Editing by Sayantani Ghosh and Matthew Lewis)
