Tesla walks back Robotaxi reveal, sending its stock plummeting
How did Uber and Lyft's stock prices react to Tesla's announcement?
Uber and Lyft's stock prices experienced an increase following Tesla's announcement of delaying its robotaxi unveiling. Uber's stock rose by 6.1%, while Lyft shares jumped by 4.6%. This reaction could be attributed to the potential competition that Tesla's autonomous taxi service might pose for Uber and Lyft in the future.
Why is Tesla postponing its robotaxi unveiling to October?
Tesla is postponing its robotaxi unveiling to October to allow teams working on the project more time to build additional prototypes. The decision follows a two-month delay communicated internally, with the design team instructed to rework certain elements of the car6.
What changes are Tesla's design team making to the robotaxi?
Tesla's design team has been told to rework certain elements of the robotaxi, though specific changes have not been publicly disclosed. The delay in the unveiling to October is to allow teams more time to build additional prototypes and refine the vehicle's design3.