Tesla CEO Elon Musk announced on social media that the company will reveal its robotaxi product on August 8, marking a significant milestone in Tesla’s ambitions for autonomous vehicles. This move comes amidst investor concerns about slowing growth in the company.
Following Musk’s tweet, Tesla’s shares surged over 3% in extended trading, reflecting investor enthusiasm for the upcoming announcement. The revelation of the robotaxi project comes shortly after reports surfaced that plans for Tesla’s low-cost car model had been scrapped, with Musk accusing Reuters of misinformation.
Elon Musk had initially promised full autonomy for Tesla cars within three years back in 2015, followed by claims of cross-country autonomous drives by 2017. However, Tesla has yet to deliver on these promises, despite offering advanced driver assistance systems like Autopilot and Full Self-Driving (FSD) options, the latter of which comes with a premium price tag.
Elon Musk (Credits: VN Express International)
Tesla’s FSD option, despite its name, still requires a human driver ready to intervene if necessary, highlighting the gap between Tesla’s promises and the reality of autonomous driving technology. Meanwhile, competitors like Waymo and Didi have made strides in commercializing autonomous ride-hailing services.
The autonomous vehicle market has seen its share of challenges, with companies like Apple and GM’s Cruise facing setbacks, including layoffs and regulatory scrutiny. Despite Tesla’s announcement, past unveilings, such as the Semi truck in 2017, have not translated into immediate commercial availability, indicating potential delays in the rollout of the robotaxi product.
Tesla’s upcoming reveal of its robotaxi product marks a significant development in its autonomous driving ambitions. However, challenges remain in delivering on past promises and competing in a crowded market where regulatory hurdles and technological limitations persist.
