STORY: The rollout of Tesla’s robotaxi business looks to be going slower than expected.That was the verdict from several Wall Street analysts Thursday (April 23), following an unusually downbeat update from Elon Musk the day before.Over the past year, the billionaire has outlined bullish expansion plans for the service.But in a call with analysts this week he sounded more measured.Musk said he hoped to have robotaxis and driverless vehicles in a “dozen or so states” by the end of the year.He said Tesla was taking a “cautious approach” to avoid injuries or fatalities.That’s all a big change from last summer, when he had said robotaxis would be available to half the population of the U.S. by the end of 2025.He had said growth would increase at a “hyper-exponential” rate.Now analysts say Tesla is likely confronting the difficulties of operating robotaxis.One said Musk’s call was untypically “low energy”, and was marked by unusual reserve and caution.Having once said robotaxis would generate significant revenue by the middle of this year, he now says that won’t happen until some time in 2027.Investors will be watching very carefully, with much of Tesla’s $1.5 trillion value tied to Musk’s big promises on the new service.Critics note that he has a long history of unfulfilled promises on driverless vehicles stretching back a decade.

← Back to News