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Tesla's Robotaxi fleet has reached a milestone of 200 vehicles, with 158 in the Bay Area and 42 in Austin, addressing complaints about ride availability. Initially, users faced long wait times, but reports indicate improvements, especially in California, where wait times have dropped significantly. Tesla is also testing driverless rides and plans to expand the Robotaxi service to more cities, including Miami, Las Vegas, and Houston, while prioritizing safety and efficiency in its operations.
Tesla, Rivian Automotive, NIO, QuantumScape, and XPENG are highlighted as the top electric vehicle stocks to watch today, according to MarketBeat. These companies are involved in the design, manufacturing, and sale of electric vehicles and their components. The electric vehicle sector is known for its volatility and sensitivity to market factors, offering high growth potential but also greater risks. Tesla, Rivian, NIO, QuantumScape, and XPENG have shown significant trading volume recently, making them key players in the market.
Tesla's stock (NASDAQ: TSLA) fell nearly 3% after it was revealed that potential customers prefer to develop their own self-driving systems rather than license Tesla's Full Self-Driving (FSD) program. Ford's head of electrical engineering emphasized the need for automakers to bring self-driving technology in-house for better customization and cost efficiency. Despite this setback, Tesla saw a 50% increase in registrations in South Korea, with the Model Y dominating the electric vehicle market. Analysts currently rate TSLA as a Hold, with an average price target suggesting a 6.38% downside risk.
Cathie Wood May Be Trimming Her Tesla Stake, But She Still Thinks the Company Is on Track for 70%-80% Gross Margins
Tesla shares fell around 3% on Tuesday, mirroring a broader market selloff affecting large technology stocks amid rising trade tensions. The decline followed renewed tariff threats from President Trump, impacting major tech companies. Despite this, Tesla may benefit from a new Canadian policy removing tariffs on Chinese-made EVs, potentially reshaping the competitive landscape. CEO Elon Musk emphasized Tesla's focus on AI chip production, although current stock performance is influenced more by market sentiment than company fundamentals.
