Tesla (NASDAQ: TSLA) has officially launched its robotaxi service, providing paid rides in Austin, Texas, starting Sunday. Currently, the service utilizes a limited fleet of 10 to 20 Model Y vehicles, rather than the initially planned Cybercab model.
The robotaxis operate within a geofenced area and are monitored remotely by safety operators, with a Tesla employee present in the vehicle. Initially, only select customers can access the service. Following the launch, Tesla’s stock saw an 8% increase on Monday, boosting Elon Musk’s stake by approximately $10 billion.
In comparison, Alphabet’s Waymo is already offering 250,000 paid rides weekly across six cities, indicating Tesla’s need for significant scaling. Despite expectations for rapid growth, Tesla faces challenges as vehicle sales flatline and competition increases within the autonomous vehicle sector.
