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Elon Musk, CEO of Tesla, announced on Friday on Twitter that the long-awaited robotaxi will be unveiled on August 8, sparking anticipation among investors and enthusiasts. However, no specific details of the project were revealed by Elon Musk. 

Market Response and Previous Expectations

Following Musk’s announcement, Tesla’s shares surged by over 3% in after-market trades, indicating investor confidence in the upcoming robotaxi unveiling. Tesla had initially projected the launch of robotaxis by 2020, with expectations of these autonomous vehicles operating for 11 years and covering 1 million miles, generating an estimated annual profit of $30,000 each. However, delays have pushed back the timeline, heightening interest in the latest developments.

Tesla’s Full Self-Driving Capability

Elon Musk has reiterated Tesla’s commitment to developing vehicles capable of autonomous operation without human intervention. With the introduction of Full Self-Driving (FSD) capability, Tesla models are expected to continuously improve through software updates, eventually surpassing human driving capabilities. Musk envisions a future where FSD-equipped Tesla vehicles serve as robotaxis, revolutionizing transportation with their superhuman driving abilities. The FSD feature is available with the new Tesla Model 3, setting the stage for further advancements in autonomous driving technology.


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