Tesla is set to launch its robotaxi service on June 22, with CEO Elon Musk announcing plans for public rides in Austin, TX. A video shared by Musk showcased a driverless Model Y making turns autonomously, indicating significant progress toward Tesla’s autonomous driving ambitions. The first customer ride from the Tesla factory is scheduled for Musk’s birthday on June 28.
The initial rollout will involve 10-20 Model Y SUVs operating under remote human supervision. If successful, Tesla plans to expand this service to other states like California, despite potential regulatory challenges. Current competitors, including Alphabet’s Waymo and Baidu’s Apollo Go, already have well-established commercial robotaxi services, with Waymo providing approximately 250,000 rides per week across four U.S. cities.
Tesla shares have declined 19% year-to-date, slightly better than the industry’s 22% drop. The company’s forward price-to-sales ratio stands at 10.02, significantly higher than the industry average and its own five-year average.
