Tesla Shares Hit Three-Month High as Texas Robotaxi Registrations Top 1,000

Tesla stock climbed to its highest intraday level in more than three months on Tuesday, October 27, after the automaker’s registered robotaxi fleet in Texas crossed the 1,000-vehicle mark.

Records from the Texas Department of Motor Vehicles list 1,051 registered autonomous vehicles in the state, split between 544 two-seat Cybercabs and 507 Model Y crossovers.

Cybercab registrations accelerate as Tesla prepares more cities

The dedicated two-seat Cybercab now represents slightly more than half of Tesla’s registered Texas fleet following 81 new additions, capping a stretch that added 248 Cybercabs over the past week and 418 across the past 30 days alongside 87 additional Model Ys.

Active passenger fleets remain smaller than total state registrations, with 415 robotaxis operating in Austin, 76 in Dallas and 39 in Houston, according to Eletric Vehicles.

While commercial Cybercab rides are currently limited to Austin, Chief Financial Officer Vaibhav Taneja told investors on the third-quarter earnings call that additional markets will launch before year-end, and AI Software Vice President Ashok Elluswamy indicated on October 10 that Dallas service is arriving soon.

Analyst upgrade and expanding service zones lift the spotlight

On Monday, October 26, Tesla widened its Houston robotaxi coverage area nearly tenfold by adding 229 square miles, creating a 254-square-mile zone from northwest Houston through downtown to Bellaire that is roughly five times larger than Waymo’s 49-square-mile local footprint.

Across its six active U.S. unsupervised robotaxi markets, Tesla’s geofences now span 272 square miles in Austin, 254 in Houston, 81 in Dallas, 31 in Miami, 26 in Orlando and 24 in Tampa, with CEO Elon Musk replying on Tuesday that beach coverage in Miami and Tampa is coming soon.

Shares rose as much as 4.1% on Tuesday to $407.50, their highest level since July 10, capping a roughly 9% two-day rally after Barclays analyst Dan Levy upgraded the stock to Overweight with a $450 price target and Cantor Fitzgerald reiterated its $485 target.

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