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Tesla Stock Declines 10% Following Robotaxi Event Delay to October

Written by Cláudio Afonso | LinkedIn | X

Tesla is delaying the event where it is expected to unveil its Robotaxi from August 8 until October, according to a report from Bloomberg. Earlier this year, the chief executive Elon Musk had announced on X that the event would take place on 8/8.

The report mentions that the delay will allow the teams to work on more prototypes to showcase at the event which is seen as a big catalyst by retail and institutional shareholders.

Called CyberCab by Elon,  appears to feature a two-seat interior without a steering wheel, and a large center console, as shown in an image shared by Tesla in a video released in late May.

Earlier today, the stock reached $271 per share having dropped nearly $30 (about 10 percent) in the two hours that followed the report. As of the time of writing, Tesla’s stock is trading at $245

When asked on X to comment on the report, the CEO has not responded.

Written by Cláudio Afonso | LinkedIn | X

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Cláudio Afonso founded CARBA in early 2021 and launched the news blog EV later that year. Following a 1.5-year hiatus, he relaunched EV in April 2024. In late 2024, he also started AV, a blog dedicated to the autonomous vehicle industry.