CEO Elon Musk is set to launch his highly anticipated Tesla robotaxis in Austin, Texas. Musk announced in a CNBC interview that self-driving cars will be on the road by the end of June.
While the prospect of autonomous vehicles zipping around the streets may sound like the future arriving at lightning speed, experts are advising potential investors to take a closer look before jumping in.
“Look under the hood and see if what the fund holds is right for you,” said Roxanna Islam, head of sector and industry research at TMX VettaFi.
Tesla Robotaxis on the Way
Musk said the program will initially roll out with about 10 Tesla robotaxis and will scale up quickly to thousands of vehicles if the launch proves smooth and safe.
However, the vehicles will be geofenced to operate only in designated parts of Austin and will avoid intersections deemed unsafe — a precaution following concerns over recent software issues reported in Tesla’s Full Self-Driving (FSD) system.
“The vehicles will not enter areas that Tesla considers hazardous intersections,” Musk said, referencing a recent Business Insider report about a critical FSD error involving red-light recognition. Read more
