Tesla (TSLA) shares fell sharply following a Bloomberg report that the EV maker’s plans to delay its robotaxi unveiling to October. In April, CEO Elon Musk posted on X that the vehicle would be unveiled on August 8th, but according to the report, the date is being pushed back to give employees more time to work on the prototypes.
Market Domination anchors Julie Hyman and Josh Lipton discuss the report in the video above.
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This post was written by Stephanie Mikulich.
Let’s get to some of the training tickers today on Yahoo Finance first up, we’ve got Tesla.
Unfortunately, all good things must come to an end.
At least if you’re a Tesla shareholder, you see it as a good thing that includes Tesla’s 11 day rally here with more Yahoo Finance’s pros Romanian and pro um the shares were up about 44% in that 11 days, but today the stock is falling.
Yeah.
Uh The big reason why is this Bloomberg report about the Robo Taxi revealed that was scheduled for August 8th gonna get pushed back uh about two months into October.
Perhaps that, that’s the reporting that Bloomberg is, is saying that basically the reason why is that Tesla needs more time to build the prototypes for the Robo Taxi in addition to the fact that there might be some rework of the design.
Uh Some people I guess aren’t happy with how they look the actual Robo Robotaxis right now.
So that deadline has been communicated internally according to their sources and the questions that I have are, you know, but does it mean the Robotaxis aren’t ready for prime time or is the software not ready for prime time.
You have competitors that are already testing out their robotaxis in, in sort of geo fenced areas.
Uh did must jump the gun on when he said, hey, a August 8th is going to be our, our reveal date.
Uh Imagine he had done that.
Imagine this, this date change had happened before his pay package was approved, right?
Things like that are, I mean, I’m not saying this is, this is a, you know, they knew before, but it’s just interesting to think that I would, he have been able to get that pay package of, you know, just stuff like that.
I mean, I think investors are kind of used to shifting dates for things.
So maybe that’s part of it too and he hasn’t said anything on X yet.
Right?
I haven’t seen anything yet.
No comment yet but Julie.
Right.
You know, the Cyber truck push back model Y model three were all pushed back.
It just, it’s just part of their whole aggressive timelines and they kind of adjust that on the fly.