Elon Musk Announces Delay of Tesla Robotaxi Event to October

On Monday, Elon Musk announced that Tesla’s robotaxi event, initially scheduled for August, has been postponed to October. Musk shared this update on X (formerly known as Twitter), a platform he owns, in response to a user’s inquiry.

He explained that the delay was due to his request for a significant design change to the vehicle’s front, and the additional time would also allow Tesla to showcase some other new features.

This announcement aligns with a recent Bloomberg report from July 11, which indicated that the event’s delay would provide Tesla with more time to develop additional prototypes.

The report mentioned that Tesla had communicated this delay internally, instructing the design team to rework specific elements of the car. This directive appears to be in line with Musk’s request to alter the front design of the robotaxi.

Elon Musk Announces Delay of Tesla Robotaxi Event to October
Elon Musk Announces Delay of Tesla Robotaxi Event to October

Originally, Musk had stated in early April that the Tesla Robotaxi would be revealed on August 8. This announcement coincided with a Reuters report revealing that Tesla was discontinuing plans for a $25,000 budget model, often referred to as the Model 2, to focus more on robotaxi development.

Musk responded to the Reuters report by accusing the publication of lying, though he did not specify which details he disputed.

In the weeks following these announcements, Tesla undertook significant cost-cutting measures, including reducing its workforce by over 10 percent from its more than 140,000 employees. Shortly thereafter, two senior executives were also let go as Musk emphasized the need for strict headcount and cost reduction.

Despite these efforts, Tesla reported a nearly seven percent drop in vehicle deliveries in the first half of 2024 and a nearly 15 percent decrease in production in the second quarter compared to the same period in 2023.

Anuj Bhor
Anuj Bhor
Engineer turned stock trader. Passionate about analyzing market trends and maximizing profits through informed decisions.
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