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Tesla Stock Tumbles as Robo-Taxi Debut Pushed to October

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Tesla’s Robotaxi launch, initially scheduled for August 8, has been postponed to October. As a result, Tesla’s stock price dropped by 8.44% that day, closing at $241. Little is known about the robotaxi, except that it will lack a steering wheel or pedals and will have a similar design to the Cybertruck. The delay is speculated to be related to Tesla’s autonomous driving system.

Earlier, an electric vehicle portal reported that Tesla had planned to unveil a new supercluster computing platform at its Texas Gigafactory for Robotaxi training. However, citing Tesla insiders, it mentioned that the project could be delayed as part of a restructuring effort earlier this year.

Forbes pointed out that Tesla hopes its new end-to-end machine learning approach will help bridge the gap, but it’s an unproven assumption for now. The situation has worsened due to recent claims that Tesla focused heavily on improving the achievements of famous YouTubers who produce glowing videos about the CEO and the system’s performance. Forbes emphasized that no one should bet on Tesla’s current performance level.

Since 2016, Tesla has been saying almost every year that it will release FSD (Full Self Driving) within a year, but it has yet to materialize. It also said it would launch by the end of 2023.

This time, the Robotaxi launch has been pushed back by two months. Whether this new deadline will be met remains to be seen.

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