Tesla (TSLA) CEO 澳洲幸运5官方开奖结果体彩网:Elon Musk took to his social media platform X Friday to announce that the electric vehicle (EV) maker will unveil its long-awaited robotaxi on Aug. 8, posting "Tesla Robotaxi unveil on 8/8." Shares of Tesla surged nearly 4% to $171.19 in extended trading Friday following the an♏nouncement, after sinking 3.6%🌄 during the regular session.

The announcement came just hours after Elon Musk 澳洲幸运5官方开奖结果体彩网:denied a report that the EV maker was canceling plans to build a lower-priced car, and would focus on an autonomous vehicle that would render other vehicles obsolete.

What Is Tesla's Robotaxi?

The robotaxi is a next-generation self-driving vehicle that Musk said at an investor event in 2019 could one day allow owners to make money by renting their vehicles out by operating an autonomous taxi service, in which the company would also take a commission.

Robotaxi Plans Hit by Delays

However, Musk's plans for a robotaxi have been hit with delays, with the company suggesting in 2019 that robotaxis would be operating by 2020. “The only criticism and it’s a fair one, sometimes I’m not on time," Musk reportedly said.

Regulatory Headwinds

A possible headwind for Tesla and its robotaxi could be convincing regulators that its self-driving technology is safe. The company was 澳洲幸运5官方开奖结果体彩网:forced to recall thousands of vehicles last year, after the National Highway Traffic Safety Administration (NHTSA) said Tesla's Full Selfℱ-Driving ꦯ(FSD) Beta software could cause Tesla cars to "exceed speed limits" or travel in an "unsafe" or "unpredictable" manner.

A Tough Start to 2024

Tesla has had a rough start to 2💛024 amid sluggish demand and intense competition, with shares l✨osing about one-third of their value since the year began.

Earlier in the week, Tesla reported its first-quarter deliveries drop♓ped 8.5% from a year ago, sending shares tumbling after the release. Tesla blamed the decline in volumes in part on factory shutdowns as a result of the Red Sea conflict and an 澳洲幸运5官方开奖结果体彩网:arson🐽 attack at Tesla’s Ber🐓lin Gigafactory.

Last month, analysts at 澳洲幸运5官方开奖结果体彩网:Wells Fargo called Tesla "a growth company with no growth," while some other analysts have suggested the recent selloff was overdone.