Tesla stock rises as Musk touts 'successful' robotaxi Austin launch

Tesla's autonomous robotaxi service took to the streets of Austin, Texas, this weekend, resulting in a 5% increase in the company’s stock price on Monday. The electric vehicle manufacturer officially rolled out its driverless rides on Sunday, initially offering the service to a select group of invited riders. CEO Elon Musk celebrated the achievement on social media platform X, announcing a flat fare of $4.20 for customers. Musk expressed his gratitude to the Tesla AI and chip design teams, stating, "Super congratulations to the @Tesla_AI software & chip design teams on a successful @Robotaxi launch!! Culmination of a decade of hard work. Both the AI chip and software teams were built from scratch within Tesla." Feedback from early users has been largely positive, with one tester sharing their experience of 11 seamless rides without any problems. Musk also reshared various positive testimonials from other users, building excitement around the new service. The launch positions Tesla in direct competition with Alphabet’s Waymo, which already operates a robotaxi fleet in several U.S. cities and recently celebrated reaching 10 million rides. Musk has ambitious plans for Tesla, aiming to deploy "Hundreds of thousands, if not over a million" self-driving cars across the U.S. by the end of next year. Despite the enthusiasm, the launch was not without its challenges. Prior to the debut, Tesla faced criticism from a group of Texas Democratic lawmakers and public safety advocates who called for a delay. Additionally, while Tesla’s full-self driving features include automatic steering and parking, they have been associated with accidents and fatalities, according to reports from the National Highway Traffic Safety Administration. As Tesla pushes forward, the spotlight remains on how these advancements will affect safety and public perception.