With Tesla initially expected to reveal its highly anticipated autonomous “robotaxi” electric vehicle (EV), it has been reported that the company has decided to delay its scheduled unveiling. 

Originally scheduled for August 8th, the event is now aimed for October according to Bloomberg. The delay is done to allow Tesla’s engineering teams more time to build and test additional prototypes of the fully autonomous robotaxis. This decision has been communicated internally but not yet announced publicly by Tesla or its CEO Elon Musk.

Read More: Tesla Stock Soars as Elon Musk Reveals Robotaxi Plans

Tesla’s Robotaxi has been a major focus of the company’s strategy, with Musk expressing the company’s focus on AI and robotics rather than standard automaking during a recent earnings call stating, “Really, we should be thought of as an AI robotics company.”

As of now, the concept of a Tesla Robotaxi has been in development for around eight years, dating back to Musk’s “Master Plan, Part Deux.” The robotaxi is also projected to be “purpose-built” for autonomous operation, potentially lacking traditional controls like steering wheels and pedals.

The delay arrives at a time when Tesla’s stock has been on an 11-day streak of gains, adding over $257 billion to the company’s market capitalization. The news of the postponement, however, led to an 8 percent drop in Tesla’s stock price according to Bloomberg.

While Tesla continues to develop its autonomous technology including its Full Self-Driving (FSD) program, other companies including Waymo are already operating fully autonomous taxis in San Francisco, California.

With the postponement, the preparation of Tesla’s autonomous technology and the company’s ability to deliver on Musk’s ambitious promises is being questioned. Although it also spotlights the ongoing hurdles in developing fully autonomous vehicles, which has been complex than many in the industry initially anticipated.

As October approaches, the EV industry will be on Tesla to see if this extra time will result in a more refined and capable Robotaxi prototype.

If you are looking for Tesla models, we can help you get started. Click Here to find the best deals near you. Want to learn more about EV? Thinking of buying an EV? Head over to EV.com and discover more.

EV.com is the world’s 1st Electric Vehicle (EV) marketplace that aims to promote zero-emission mobility by providing a platform for consumers to learn about, compare, and purchase EVs.