Musk: Tesla to launch robotaxi on August 8th.

According to Bloomberg, Tesla plans to launch its long-promised robotaxi later this year, as the company is currently grappling with weak sales and fierce competition from budget electric vehicles from China.

On April 5th, Tesla CEO Musk posted on the social media platform X that Tesla will launch the robotaxi on August 8th.

On April 5th, Tesla's stock price surged as much as 5.1% in after-hours trading in New York. As of the close of that day, Tesla's stock price had fallen 34% this year. Prior to Musk's announcement about the robotaxi, Meta Platforms CEO Mark Zuckerberg replaced Musk as the world's third-richest person.

Fully autonomous driving cars have long been key to Tesla's lofty valuation. In recent weeks, Tesla has rolled out the latest version of its Full Self-Driving (FSD) software to consumers.

Tesla has said that its next-generation vehicle platform will include budget cars and dedicated robotaxis. While the company has revealed these two products, prototypes have not yet been announced. Musk's latest tweet suggests that although both cars will be based on the same platform, the robotaxi will debut before the budget electric vehicle.
Earlier, Reuters reported that Tesla had canceled its plans for the budget electric vehicle and would allocate more resources to bring the robotaxi to market. In response, Musk said, "Reuters is lying," but did not provide specific details.

In the first quarter of this year, Tesla's car production exceeded deliveries by 46,561 units, forcing the company to significantly reduce prices. American consumers have opted for cheaper electric vehicles over more expensive ones, leading many manufacturers to rethink their electrification plans.