Elon Musk saw the largest single-day increase in wealth following the launch of Tesla's robotaxi service in Austin, drawing both interest and safety concerns.
Tesla Robotaxi Launch in Austin
On Sunday, Tesla opened its robotaxi service in Austin for a limited number of riders, charging a flat fee of $4.20 per trip. Although employees accompanied each ride for safety, the service, years in the making and heavily promoted by Musk, boosted Tesla’s shares.
Tesla Stock Surge and Musk’s Wealth
Tesla's stock climbed as much as 11% in Monday trading before closing up 8%, reducing its year-to-date losses to under 7%. This single-day surge added $19 billion to Musk’s fortune according to Bloomberg's Billionaire Index, raising his net worth to approximately $385 billion.
Safety Concerns Surrounding the Robotaxi
The National Highway Traffic Safety Administration (NHTSA) has requested additional information from Tesla after viewing online videos that appeared to show a robotaxi in the wrong lane and one speeding. The safety agency stated it is 'aware of the referenced incidents' and is 'in contact with the manufacturer to gather additional information'. Tesla has said it would avoid bad weather conditions and tricky intersections.
The launch of Tesla's robotaxi service has attracted the attention of both investors and regulators. Despite impressive financial outcomes, safety issues remain a significant concern requiring further examination.
