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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 is the Founder and Editor of EV, an independent electric vehicle news publication owned by CARBA, the company he founded in early 2021. Between 2022 and 2024 he worked in European corporate communications at Nio, and he returned to lead EV in April 2024. He is based in Porto, Portugal.