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Tesla Delays Robotaxi Event by 2 Months, Lyft and Uber Shares Rise

Jul 11, 2024, 05:10 PM

Tesla has announced a delay in its planned robotaxi demonstration event, originally scheduled for August 8th, now postponed to October. The news, reported by Bloomberg, has caused a significant market reaction, with shares of ride-hailing companies Lyft and Uber rising by 5.45% and 4%, respectively. Despite the 2-month delay, some analysts believe the timing does not impact the overall outlook for Tesla's autonomous technology. However, Tesla's vehicle deliveries and production have decreased this year, highlighting ongoing challenges for the company. Elon Musk has yet to comment on the delay.