<p>(Reuters) — Tesla shares jumped 10% on Monday after the electric-vehicle maker started testing its long-awaited robotaxi service, a key step toward proving the technology that CEO Elon Musk has for years touted as a crucial driver of its lofty valuation.</p>
<p>The automaker deployed a small fleet of self-driving taxis in Austin, Texas, on Sunday, marking the first time its cars have carried paying passengers without human drivers. The rides were being offered for a flat fee of $4.20 in a limited zone.</p>
<p>The trial&#8217;s success is crucial for Tesla as Musk has pivoted the company to self-driving cars and robots, shelving plans for mass-market dominance in the EV space as Chinese competition heats up and demand slows for its aging line-up of models.</p>
<p>&#8220;It was a comfortable, safe, and personalized experience,&#8221; said Wedbush Securities analyst Dan Ives, who took multiple robotaxi rides on Sunday and has long been a Tesla bull.</p>
<p>&#8220;There was a moment where we drove up a narrow road going up a hill with cars parked on both sides with oncoming traffic and people opening their car doors into the road and the robotaxi masterfully maneuvered with patience and safety.&#8221;</p>
<p>Many social-media influencers also posted videos of their first rides on X, showing the cars navigating busy city streets by slowing down and making room for incoming traffic.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="zxx" dir="ltr"><a href="https://t.co/3GbQ9sZA2O">https://t.co/3GbQ9sZA2O</a></p>
<p>&mdash; Tesla (@Tesla) <a href="https://twitter.com/Tesla/status/1937076639504236728?ref_src=twsrc%5Etfw">June 23, 2025</a></p></blockquote>
<p>Still, the tightly controlled trial — with about 10 vehicles and front-seat riders acting as &#8220;safety monitors&#8221; &#8211; is just the first step in what could be a years-long process of scaling up the service, according to some industry experts.</p>
<p>Musk said that he aims to get &#8220;hundreds of thousands, if not over a million Teslas doing self-driving in the U.S.&#8221; by the end of next year.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">ELON MUSK:“By the end of next year, we&#39;ll have hundreds of thousands, if not over a million Teslas doing self-driving in the US.” <a href="https://t.co/q4EkaxSggI">pic.twitter.com/q4EkaxSggI</a></p>
<p>&mdash; Dima Zeniuk (@DimaZeniuk) <a href="https://twitter.com/DimaZeniuk/status/1936795466575810739?ref_src=twsrc%5Etfw">June 22, 2025</a></p></blockquote>
<p>Tesla, as well as rivals including Google-backed Waymo, have faced federal investigations and recalls following collisions.</p>
<p>Industry experts have questioned the efficacy of Tesla&#8217;s self-driving technology that depends mostly on cameras and AI, without redundant sensors such as lidar and radar, claiming fog, heavy rain and glaring sunlight can hamper safety.</p>
<p>The company will also have to navigate a new Texas law taking effect September 1 that requires a state permit for self-driving vehicles and reflects bipartisan calls for a cautious roll-out.</p>
<p>If Monday&#8217;s gains hold, Tesla — the world&#8217;s most valuable automaker — will add nearly $100 billion to its market value of about $1 trillion. The stock has declined about 12% so far this year, after the company faced criticism and <a href="https://www.dailywire.com/news/fbi-issues-warning-over-left-wing-terrorist-attacks-against-tesla">threats</a> over Musk&#8217;s role in the Trump administration and his backing of right-wing political movements in Europe.</p>
<p>Still, Tesla trades at nearly 149 times forward earnings estimates, far above auto rivals such as Ford Motor at 9.3 and tech giants including Microsoft at 31.6.</p>
<p>(Reporting by Aditya Soni in Bengaluru; Editing by Anil D&#8217;Silva)</p>

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Tesla Shares Soar After First Robotaxis Hit The Road