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Key Points
Tesla (NASDAQ: TSLA) shares rose nearly 4% as of 2 p.m. ET today following CEO Elon Musk’s update on the company’s robotaxi fleet and signs of potentially improving electric vehicle (EV) sales trends. Recently, wait times for the Model Y increased from one to three weeks to a range of four to six weeks, indicating a possible uptick in orders after a decline in year-over-year EV sales during the first two quarters of the year.
A Wider Robotaxi Release
Musk announced on X that Tesla’s robotaxi service would have “open access next month,” allowing wider customer use without invitation. The company is currently conducting a soft launch of robotaxis in Austin, Texas, and San Francisco, which are monitored remotely and geofenced. Additionally, he noted that the full self-driving technology for Model Y vehicles in Austin is approximately six months more advanced than currently available in the U.S.
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