TESLA INC. (NASDAQ:TSLA): Tesla's robotaxi late entry could face stiff competition next year

 


Tesla stock broke below key trendline supports at ~ $154.50 on Wednesday after being downgraded by Jefferies on concerns about Tesla's perpetual price cuts. The stock is now threatening to move down further to retest $135.13.

The good news is that Tesla could introduce their robotaxi in mid-2024, per Tasha Keeney, Director of Investment Analysis and Institutional Strategies at Ark Invest. Here's what Elon Musk told analysts during the Tesla Q1 2023 conference call, "So, there will be a like a Model 3 or Model Y would be a robotaxi, a robotic taxi."

By U.S. law, however, any individual or business that transports people for a fee in a for hire vehicle, such as a taxi or any other vehicle used for transporting passengers for payment MUST have a license. So, no one knows for certain how Tesla's robotaxi will work.

Meanwhile, competitors, all with level 4 autonomy, including GM's Cruise, Alphabet's Waymo One, Motional, Baidu's Apollo RT6, and AutoX, are already offering their ride-hailing services.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!


Comments

Post a Comment

Popular posts from this blog

TESLA INC. (NASDAQ:TSLA): A robotaxi war may be brewing in China

Image
Tesla cleared their first hurdles in China after the company received FSD approval from the Chinese government. Beware though, just days after Elon Musk confirmed Tesla's intent to unveil their robotaxi in August, one of China's largest ride-hailing companies, Didi Chuxing, announced a joint venture with Chinese EV maker GAC Aion to mass produce its own Level 4 robotaxi, per IOT World Today. Didi acquired Uber China in 2016 and has more than 80 million active users in China. The downtrend of Tesla stock remains intact. TSLA needs to break above the key resistance level at $182.33 soon, or else the stock could pull back to below its 50-day EMA. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!
Read more

BITCOIN (BTC/USD): Bitcoin stuck under trendline resistances at ~ 69k or the Nov'21 high

Image
Bitcoin is stuck under trendline resistances at ~ 69k, or the Nov'21 high. June's macro conditions could provide the next catalyst for bitcoin to make a breakout, per CoinDesk. Be aware, though, that a rejection from the trendline resistances could send bitcoin back down to retest the trendline support ~ 65k. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!
Read more