The revealing was initially deliberate for August 8, however Tesla has pushed the occasion again till October to provide groups extra time, Bloomberg Information reported, citing folks aware of the choice.
Shares of Tesla fell 6.4 p.c in afternoon buying and selling.
Earlier than Thursday, Tesla shares had risen 11 straight days in a transfer partly attributed to the robotaxi occasion, which Musk has described as a platform for the corporate’s bold autonomous driving expertise.
The outspoken Musk has a historical past of creating daring predictions concerning the prospects for autonomous autos, saying typical autos will in the future be as out of date as a horse and buggy and utilizing a flip cellphone.However Musk has fallen wanting projections concerning the timeframe for self-driving expertise, after beforehand predicting the corporate would obtain the breakthrough by 2018.Analyst Dan Ives of Wedbush mentioned that whereas Thursday’s “kneejerk” market response to the delay was a destructive, the later timeframe “may simply make the precise Robotaxi occasion and prototypes even higher and extra eye popping.”Tesla wouldn’t be the primary entrant within the autonomous taxi sector, with corporations reminiscent of Waymo already working autos in a number of US cities.
