The unveiling of Tesla’s Robotaxi, expected in August, has been postponed for a few months. This immediately caused a drop in the stock price.
Elon Musk, a precursor and determined to establish his brand, managed to make “Tesla” a success. Starting from scratch and being initially seen as crazy for pursuing the path of electric cars, the California-based company still managed to produce the best-selling car in the world in 2023. The Model Y achieved this feat, even though it initially did not have such ambitions. However, since 2024, the American manufacturer has been facing more challenging times. Sales have plummeted, particularly in the second quarter, with a global decrease of 4.8%, totaling 443,956 vehicles. This decline can be partly attributed to the waning interest in electric vehicles in lucrative markets. Nevertheless, Tesla had pinned its hopes on launching its Robotaxi in 2024, an autonomous vehicle that has been talked about for several years. It was originally set to be unveiled on August 8. Unfortunately, according to sources within Elon Musk’s company, it seems likely that the reveal will be postponed to at least October.
According to Bloomberg, the decision to delay the Tesla Robotaxi is due to the fact that the teams working on it need more time to build prototypes. There may also be issues with the FSD (Full Self Driving) system, which is proving more challenging to develop than initially anticipated.
The announcement of the postponement of the Robotaxi presentation, although not yet official, was poorly received by the financial markets. After 11 consecutive days of gains, Tesla’s stock dropped by 8% following the news. The shift in focus from the affordable $25,000 electric vehicle to the autonomous car and the brand’s redirection towards artificial intelligence and autonomous vehicles does not bode well for Tesla’s first major innovation in years being delayed for a few months.
Concerning competition, Rimac with its new Verne brand recently outshone Tesla with a two-seater, 100% autonomous robotaxi. This vehicle, equipped with level 4 autonomous driving, is expected to launch in 2026. Mate Rimac, who also owns Bugatti, put pressure on the American company with this move. The official match of robotaxis is now set to start in October!
It is crucial for Tesla to maintain investor confidence amid increasing competition, especially in the emerging field of robotaxis. Other companies are also entering this space, like Rimac with its Verne brand. By offering autonomous transport for two passengers, they are challenging Tesla’s dominance. The competition in the robotaxi sector is just heating up, and the official showdown will be in October.