Thursday, July 11, 2024

"Tesla Plans to Delay Robotaxi Event to Build More Prototypes" (TSLA)

We are not "Tesla 24/7" but the stock is jumping around and, well, we have quite a few readers who want information so as to make up their own minds. So here's Bloomberg, July 11:

  • Carmaker will show vehicle in October, rather than on Aug. 8
  • Anticipation of event has helped fuel 11-day streak of gains 

Tesla Inc. is delaying its planned robotaxi unveiling to October to allow teams working on the project more time to build additional vehicle prototypes, according to people familiar with the decision.

Chief Executive Officer Elon Musk set the initial Aug. 8 date for the event months ago, and optimism about the spectacle has contributed to an 11-day streak of gains that’s added more than $257 billion to Tesla’s market capitalization. The stock fell more than 8% in intraday trading Thursday after Bloomberg News first reported the delay.

The postponement has been communicated internally, said the people, who asked not to be identified because the information hadn’t been publicly announced....


Personally I don't really care but with the stock down $17.05 (-6.48%) it's obvious somebody cares. $246.21 last. Tell me more about the Dojo supercomputer and what it's doing, or not doing, for TSLA. 

For what it's worth, China's answer to Google and Tesla's partner in mapping for robotaxis, Baidu, seems to be making progress. Forbes, July 11:

China Market Update: Baidu Surges On Robotaxi Optimism