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Tesla delays robotaxi launch until October: report

STORY: Tesla’s cars may have been used as taxis in New York, but the company is hitting the brakes on plans for a self-driving robotaxi. Now, it’s delaying the vehicle’s launch until October. That’s according to Bloomberg News. It says the design team has been told to rework some elements of the car. Tesla shares closed down more than 8% on Thursday after the news. That ended 11 straight sessions of gains, sending the stock up 44%. Few details about the robotaxi have emerged yet, but some Tesla watchers are skeptical. One told Reuters that Elon Musk has a long history of promising fully self-driving cars — and never delivering. The billionaire has said some of the cars will be owned and operated by Tesla, while others will be owned by individuals. Musk has signaled a new focus on robotaxis and other products, including AI, amid a slowdown in EV sales. Separately, Tesla on Thursday unveiled a cheaper version of its long-range Model 3 sedan. It is about $5,000 cheaper than the current long-range variant of the model. Investors have criticized the company for its lack of new products, but Musk has promised that new cars will come next year, albeit based on current platforms.