Tesla, the electric vehicle manufacturer led by Elon Musk, has decided to postpone the launch of its highly anticipated robotaxi by approximately two months, according to sources familiar with the matter cited by Bloomberg News on Thursday. The delay comes as the design team has been instructed to rework certain elements of the car. Tesla’s stock, which had been on an upward trajectory for 11 consecutive sessions, experienced a significant drop of over 8% to close at $241.03.
The announcement of the robotaxi unveiling was made by Musk on August 8, shortly after a Reuters report on April 5 indicated that Tesla had abandoned its plans for an affordable vehicle but would continue focusing on the development of self-driving robotaxis using the same small-vehicle platform. Despite the delay, Tesla has not yet responded to a request for comment from Reuters.
Tesla has faced criticism in the past for repeatedly pushing back the release of promised products, leading some to question the company’s ability to deliver on its ambitious promises. The stock market’s reaction to the delay is evident, with Tesla’s shares experiencing a significant decline after a period of substantial gains.
The reworking of the robotaxi’s design suggests that Tesla is striving for perfection in its autonomous vehicle technology. However, skeptics argue that the company’s history of missed deadlines raises doubts about its ability to meet its targets.