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Business News/ Markets / Stock Markets/  Tesla shares jump 5% after Elon Musk announces Robotaxi launch date
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Tesla shares jump 5% after Elon Musk announces Robotaxi launch date

Tesla will unveil the self-driving Robotaxi on August 8, says CEO Elon Musk

In the past, Elon Musk had said that Tesla will make a car that did not have human controls. (REUTERS)Premium
In the past, Elon Musk had said that Tesla will make a car that did not have human controls. (REUTERS)

Tesla Inc. shares jumped as much as 5 per cent on Monday after chief executive officer (CEO) Elon Musk announced the company will unveil Robotaxi in August this year.

The electric car maker will unveil the self-driving Robotaxi on August 8, said Musk in a post on social media platform X. 

Without revealing details Musk stated, “Tesla Robotaxi unveil on 8/8."

ALSO READ: Musk Claims ‘Storm Has Passed’ as Tesla Sweden Strike Drags On

In the past, Elon Musk had said that Tesla will make a car that did not have human controls. He had also said that Tesla cars, which will have full self-driving capability will through software, gradually become better and better at driving, CNN reported.

In March, Musk had said that Tesla models with FSD (full self-driving) “will be superhuman to such a degree that it will seem strange in the future that humans drove cars, even while exhausted and drunk!"

He had also said that owners of Tesla vehicles with FSD will be able to have their cars serve as robotaxis, rather than remain idly parked.

Presently, people can buy full self-driving capability with a new Tesla Model 3 for an additional USD 12,000 added to the car's roughly USD 40,000 purchase price. The full self-driving capability can be bought on a subscription basis for up to USD 199 a month, based on how the car was originally equipped.

ALSO READ: Tesla gets ready to import German-made EVs to India

Tesla’s Robotaxi announcement came on the heels of a Reuters report that the 

automaker was shelving plans for a cheaper electric vehicle.

In 2019, Musk had declared that 1 million Teslas would soon be on the road and fully capable of driving themselves.

At 11:30 a.m. ET, the Dow Jones Industrial Average was up 39.32 points, or 0.10 per cent, at 38,943.36, the S&P 500 was up 6.92 points, or 0.13 per cent, at 5,211.26, and the Nasdaq Composite was up 39.14 points, or 0.24 per cent, at 16,287.66.

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Published: 08 Apr 2024, 11:51 PM IST
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