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Tesla Robotaxi Launch in Austin
Tesla has launched its long-awaited robotaxi service in Austin, Texas, marking a significant milestone for the company. Following the debut, Tesla (TSLA) shares rose over 6%, surpassing multi-week highs, with trading volume more than 60% above the 50-day average.
Robotaxi Details
The robotaxi service is currently invite-only, featuring modified Model Y vehicles and charging a fee of $4.20 per ride. A safety rider will be present in each vehicle to oversee operations. This cautious launch comes as Tesla seeks to compete with Alphabet’s Waymo, which is also operating in Austin.
Skepticism and Future Prospects
Despite the launch, Tesla faces skepticism from investors concerned about competition and slowing sales. Notable short seller Jim Chanos highlights valuation issues, although success in scaling the robotaxi service could alleviate these concerns by 2026.
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