Tesla shares rise ahead of robotaxi launch

Tesla shares are up 0.4% today awaiting the company founded by Elon Musk's big event of the year: the presentation of the robotaxi, titled "we, robot." The event will take place at the Warner Bros studios in Hollywood (Los Angeles), in a huge 44-hectare complex that includes large sets prepared for all kinds of movies and television shows.

Everyone is waiting for the robotaxi

Five years ago, Musk first presented robotaxis, completely autonomous vehicles capable of transporting passengers from one destination to another without any kind of driver. According to the tycoon's announcement at the time, these robotaxis, whose operation would be similar to that of an Uber or Cabify, would be ready to begin operating at the end of 2020. Musk's predictions, however, have not been fulfilled. On the contrary: from the moment robotaxis first came to the fore, their launch has been mired in multiple delays, with the consequent impact on the company's shares. However, after the last delay suffered last July, when it was announced that the company would not present the vehicle in August, this time it seems that, finally, the event will take place and the robotaxi will finally see the light.

Specifically, Tesla is expected to present its first robotaxi this Thursday, October 10, a small sedan with two doors and two seats, four wheels (although at one point it was speculated that it would have three) and a large amount of space in the trunk, designed for luggage. In addition, the user interface of the vehicle is expected to be very similar to current production vehicles, although simplified, since some aspects cannot be controlled.

During the presentation of the robotaxi, it is also not ruled out that Musk will present a transport application similar to Uber. One of the magnate's ideas is to turn Tesla's current fleet of customers into a kind of Airbnb on wheels, in which owners send their driverless cars to pick up passengers when they are not using them. For that to work, however, the company will have to share many more details, such as who is responsible in the event of an accident or theft and who will clean and maintain the cars between trips.

During the event, users are also expected to have the opportunity to test drive the robotaxi and have it take them somewhere in the studio.

Tesla Stock Performance

The unveiling of Tesla's robotaxi comes shortly after the company reported deliveries of its vehicles in the last quarter, which have not met market expectations. In the last three months, the company has delivered 462,890 vehicles to customers, 6.4% more than a year ago. Despite the increase, which ended two consecutive quarters of declines, the company did not meet analysts' forecasts, who expected deliveryies to be 463,000 units.

Compared to its big rival BYD, which reported deliveries of up to 443,426 vehicles, Tesla remains the world's leading electric vehicle manufacturer. Even so, the company has faced a volatile 2024, in which its shares have experienced significant falls and declines. Thus, in recent months, Tesla shares have been erratically recovering from the fall of more than 40% recorded in mid-April.

This recovery has been driven by the robotaxis promised by Musk and by the announcement of new, more economical models. Even so, after the presentation of its latest deliveries, the company's shares registered a fall of 7%, which has been mitigated recently, when the company's shares rose after learning of the new tariffs that the European Union will apply to electric vehicles manufactured in China. Specifically, the company, which has significant manufacturing operations in China, recorded a 2% increase, after obtaining a tariff rate of 7.8%, the lowest of those imposed by the European Union. In this scenario, it remains to be seen what impact the robotaxi will have on Tesla shares and how it can make the company evolve.

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