Together with
The Future. Elon Musk has announced that the EV maker is shelving its plans to build a more affordable $25,000 vehicle in favor of building a robotaxi. With companies like Cruise and Waymo either defunded or hitting governmental speed bumps, Musk may be betting Tesla’s future on its ability to master autonomous driving where its competitors haven’t.
Pilotless program
Tesla is going driverless (no, for real this time).
- Tesla’s robotaxi is being billed as the company’s savior, shifting its growth narrative (Tesla hasn’t released a mainstream car in five years and has missed production targets) and pumping its stock (it’s the worst performing company on the S&P 500 this year).
- So far, that plan has worked — the stock jumped over 5% at the news (investors always love a big-swing Tesla plan).
There’s only one issue: Tesla doesn’t have autonomous-driving capability yet. The brand’s “Full Self-Driving” software is only a “level 2” system, which means it still requires driver supervision. Additionally, the software has repeatedly come under fire from the National Transportation Safety Board.
So, how Tesla will sell that its vehicles are ready to drive themselves will be a tough road to go down.
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