Tesla has received approval to test its robotaxi service in Nevada, driving shares up 7% on Friday. With testing already in Texas and California, Tesla’s rapid expansion suggests progress towards a full product launch by 2028. Despite overvaluation concerns, Tesla aims to capture 30% of the North American ride-hailing market by 2035. Next month, Tesla will report third-quarter deliveries, expected to benefit from the US EV tax credit before it expires.

Read more at Morningstar: Stock Rallies on Expanded Robotaxi Testing