Tesla shares jump as Musk confirms driverless robotaxi testing

By Akash Sriram

Dec 15 (Reuters) - Tesla (TSLA) shares deed their highest successful astir a twelvemonth connected Monday aft CEO Elon Musk said the ​electric-vehicle shaper was investigating its robotaxis without information monitors successful the ‌front rider seat.

While overmuch of Tesla's $1.53 trillion valuation — the highest of immoderate automaker globally — is ‌tied to capitalist optimism astir its self-driving exertion and humanoid robot ambitions, the bulk of its gross and nett inactive comes from selling electrical vehicles.

Shares of the institution roseate arsenic overmuch arsenic 4.9%, hitting $481.37, their highest successful astir a ⁠year.

The banal had deed a ‌record precocious of $488.54 connected December 18 past twelvemonth connected hopes that the Trump medication would easiness regulatory hurdles for self-driving ‍cars.

Tesla launched a constricted robotaxi work successful Austin, Texas, successful June utilizing modified Model Y vehicles equipped with Full Self-Driving. Early operations were geo-fenced and included a quality "safety ​monitor" successful the rider seat.

"Testing is underway with nary occupants successful the ‌car," Musk said successful an X station connected Sunday.

Investors and analysts are betting that Tesla volition intensify investigating and rapidly deploy driverless taxis arsenic it prepares to motorboat its Cybercab exemplary adjacent year.

"The quality Tesla is investigating robotaxis without the information monitors is successful enactment with our expectations that the institution ⁠is making advancement successful its testing, successful ​line with management's statements during the 3rd ​quarter net call," said Seth Goldstein, elder equity expert astatine Morningstar.

"The marketplace is cheering the progress, sending shares higher today."

Tesla has ‍long touted its robotaxi ⁠and self-driving taxi plans, though regulatory obstacles and method setbacks person repeatedly slowed their progress.

Alphabet portion Waymo leads with much than 2,500 commercialized ⁠robotaxis crossed large U.S. cities, arsenic of November. CNBC reported past week that Waymo has ‌been operating astir 450,000 paid rides per week.

(Reporting by Akash Sriram ‌in Bengaluru; Editing by Shilpi Majumdar)