July 11, 2024

Tesla Inc. (TSLA) has postponed the launch of its anticipated robotaxi to October, allowing project teams additional time to construct more vehicle prototypes, as per sources privy to the decision.

CEO Elon Musk had originally scheduled the event for August 8, and anticipation for the event played a part in a continuous 11-day surge that boosted Tesla’s market capitalization by over $257 billion. Following the initial report of the delay by Bloomberg News, Tesla’s stock experienced an intraday trading drop of more than 6% on Thursday.