Musk Unveils New Robotaxi Plans, Sending Tesla Stock Higher Against Market Trends!
TradingKey – Elon Musk revealed the latest updates on Tesla’s autonomous Robotaxi project, driving Tesla (TSLA) stock up despite broader market declines.
On Tuesday, May 20, Tesla(TSLA) shares defied market trends, rising 0.51% to $343, while major U.S. indices fell by approximately 0.3%. Big Tech stocks saw sharp declines, with Google(GOOG) and Amazon (AMZN) dropping over 1%.
Tesla Stock Chart – Source: Google.
Tesla managed to stay in the green despite the broader market slump, largely due to progress in its autonomous vehicle sector. Musk stated,"Tesla is set to begin testing its autonomous Robotaxi fleet in Austin, Texas. Initially, around 10 vehicles will be deployed, with plans to scale up to 1,000 units within the first month."
Musk further revealed that Robotaxi services will gradually expand to San Francisco, Los Angeles, and other major cities. Additionally, he predicted: "By the end of next year, Tesla aims to have as many as 1 million fully autonomous vehicles in operation."
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