June 23 – Tesla (NASDAQ:TSLA) gained nearly 2% in pre-market trading Monday after kicking off a limited robotaxi rollout in Austin, Texas, marking a bold step in its push toward full autonomy.
The debut took place Sunday and is invite-only, with access granted to a select group of Tesla enthusiasts, investors, and influencers. Photos and videos of the sleek, self-driving Model Y vehicles quickly surfaced across social media.
Each car is equipped with Tesla’s advanced Full Self-Driving software, powered by AI and a vision-based system. Unlike rivals that rely on lidar and radar, Tesla is doubling down on its camera-only approach.
Despite earlier promises of true autonomy, a Tesla employee is currently seated in the passenger side to monitor rides. The driver’s seat remains empty, but the vehicles are restricted to geo-fenced neighborhoods in Austin.
CEO Elon Musk confirmed fewer than a dozen cars were deployed for the soft launch. The move comes just days after Texas Governor Greg Abbott signed a law requiring autonomous vehicles to receive state permits to operate without human drivers, putting Tesla on the clock, with a deadline looming Sept. 1.
The pilot feels more like a preview than a breakthrough, but it could be an early sign Tesla’s long-term autonomy vision is starting to take shape.
Based on the one year price targets offered by 43 analysts, the average target price for Tesla Inc is $289.30 with a high estimate of $500.00 and a low estimate of $19.05. The average target implies a downside of -10.20% from the current price of $322.16.
Based on GuruFocus estimates, the estimated GF Value for Tesla Inc in one year is $267.12, suggesting a downside of -17.08% from the current price of $322.16.
This article first appeared on GuruFocus.