Tesla's Robotaxi Launch Faces Two-Month Delay Amidst Design Revisions

Tesla has postponed the launch of its robotaxi prototype by two months to October due to design reworks. The announcement led to an 8% drop in Tesla's shares, halting an 11-day gain streak. Industry experts and investors have mixed reactions, with some seeing it as a strategic move to ensure a successful launch.

Tesla has postponed the launch of its highly anticipated robotaxi by about two months, pushing the unveiling to October, according to sources cited by Bloomberg News. The decision follows a directive for the design team to rework certain elements of the vehicle.

The announcement led to an immediate market reaction, with Tesla's shares plummeting more than 8% to $241.03, ending an 11-day streak that had seen the stock soar by 44%. The company has not yet responded to requests for comments, according to Reuters.

Originally set for an August 8 unveiling, the robotaxi has been a point of speculation ever since Tesla cancelled plans for a less expensive car to focus on this new autonomous vehicle. Despite limited details from Elon Musk, analysts and industry experts suggest that the race for autonomous driving systems will be challenging, citing significant engineering and regulatory hurdles.

(With inputs from agencies.)