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Tesla Delays August 8 Robotaxi Unveiling to October, Shares Drop Over 8%

Jul 11, 2024, 04:42 PM

Tesla Inc. plans to delay the unveiling of its highly anticipated Robotaxi from August to October, according to a Bloomberg report. The delay is intended to provide more time for the development of additional vehicle prototypes. The event, initially scheduled for August 8, is now rescheduled to October. Following the announcement, Tesla's stock dropped by over 8%, marking its worst day since January 25. The delay has raised concerns among investors about potential production challenges and market competition. Elon Musk, Tesla's CEO, has not confirmed the delay. The decision comes after an 11-day streak of gains for Tesla's stock.