Tesla is seeking approval for robotaxi service in California to compete with Waymo, Uber, Lyft.

From Nasdaq: 2025-02-28 09:30:00

Tesla has filed for regulatory approval in California to launch its autonomous ride-hailing service, aiming to compete with leaders like Waymo, Uber, and Lyft. CEO Elon Musk plans to introduce unsupervised Full Self-Driving in Austin, Texas, in June 2025. Despite recent challenges, Tesla’s energy and charging businesses are thriving, with plans to produce three million vehicles in 2025.

Year to date, TSLA shares have fallen 11.9%, underperforming industry peers like UBER and LYFT. Tesla’s EPS estimates for 2025 are declining, but the company expects revenue growth of 13.7%. Investors should monitor Tesla’s autonomous ride-hailing progress and consider waiting for a better entry point, despite the stock being down 40% from its all-time high. Tesla currently has a Zacks Rank #3 (Hold).

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