A day after Tesla released its “fully autonomous” robotaxis in Austin, the electric vehicle company’s shares are reportedly up 10%.
Tesla’s self-driving cars were launched on Sunday, June 22, in the state’s capital with ten vehicles driving through a neighborhood called South Congress, reported Reuters. While no one was in the driver’s seat, a front-seat rider acted as a “safety monitor” during the trial. It is unclear how much control safety monitors had over the car.
Riders who participated in the trial run were invited only and included longtime Tesla fans, promoters, shareholders, and Tesla content creators found on X and YouTube, according to CNBC.
The rides were being offered for a flat fee of $4.20 in a limited zone.
Tesla CEO Elon Musk has reposted several experiences from riders on X, and called the launch a success.
If Monday’s gains hold, Tesla will add nearly $100 billion to its market value of about $1 trillion, Reuters reported.
Texas to require permit for self-driving vehicles
Gov. Greg Abbott signed legislation on Friday, June 20, requiring a permit to operate self-driving vehicles, days before Tesla’s robotaxi launch.
The law does not take effect until Sept. 1. It requires autonomous-vehicle operators to get approval from the Texas Department of Motor Vehicles before operating on public streets without a human driver.
It also gives state authorities the power to revoke permits if they deem a driverless vehicle “endangers the public” and requires firms to provide information on how police and first responders can deal with their driverless vehicles in emergency situations.
USA Today contributed to this story.
Natassia Paloma may be reached at npaloma@gannett.com, @NatassiaPaloma on X; natassia_paloma on Instagram, and Natassia Paloma Thompson on Facebook.
This article originally appeared on El Paso Times: Why is Tesla stock up? Company’s shares climbing after robotaxi launch in Austin
Reporting by Natassia Paloma, El Paso Times / El Paso Times
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