Tesla's Austin robotaxi launch boosts Elon Musk's net worth by $10 billion
From Nasdaq.: 2025-06-28 02:23:00
- Tesla’s robotaxis have officially launched in Austin, Texas, with a limited fleet of Model Y vehicles offering rides to select customers. The successful launch led to an 8% stock increase for Tesla and a $10 billion gain for Elon Musk.
- Despite the excitement around Tesla’s robotaxi network, the company faces stiff competition from companies like Waymo, which provided nearly 4 million paid rides in the first quarter alone. General Motors and Volkswagen are also entering the robotaxi market, posing challenges for Tesla’s growth.
- Tesla’s slow rollout of the robotaxi network raises concerns about its ability to compete and meet investor expectations. With a high valuation and flat vehicle sales growth, Tesla may struggle to maintain its competitive edge in the electric vehicle and autonomy markets. Investors should consider the risks before investing in Tesla.
Read more at Nasdaq.: Tesla’s Austin Robotaxi Boosts Musk’s Net Worth. How Long Can It Last?