Tesla Delays Robotaxi Reveal Amid Design Changes Requested by Elon Musk

Tesla CEO Elon Musk has confirmed a delay in the unveiling of the company's robotaxi, originally scheduled for August 8. The delay is attributed to a design change requested by Musk. This postponement has led to fluctuations in Tesla's share prices, though they have recently rallied.

Tesla CEO Elon Musk has confirmed a report indicating that the company's event to unveil a robotaxi will be postponed beyond its planned August 8 date.

Musk did not provide a new date for the event but noted on X, the social media platform he owns, that he requested a design alteration to the vehicle's front. “The extra time allows us to show off a few other things,” he stated.

According to Bloomberg News, the event is delayed until October due to Musk's requested changes, causing Tesla shares to drop 8% for the day. However, the shares have since rallied, showing nearly a 3% increase in Monday afternoon trading.

Musk has long promoted Tesla's “Full Self Driving” system as a future revenue generator via a fleet of robotaxis. Despite being tested on public roads, the system has faced scrutiny, with the US National Highway Traffic Safety Administration citing 75 crashes and one death related to it. Tesla maintains that the system still requires human intervention at all times.