Is Elon Musk Already Giving Up on Tesla's Robotaxis?

Core Viewpoint - Elon Musk's recent focus on the Optimus robot suggests a shift away from the previously hyped robotaxi initiative, raising questions about the future of Tesla's autonomous vehicle strategy [4][5]. Group 1: Robotaxi Development - Tesla launched a small robotaxi fleet in Austin, expanding from 10 to 30 vehicles between June and late August [3]. - Musk previously claimed that a robotaxi network could make Tesla the most valuable company globally, with projections of a $5 trillion valuation from supporters [2]. - Despite initial enthusiasm, Musk has been quiet about the robotaxi business since its launch, indicating a potential shift in focus [3][4]. Group 2: Future Projections - Musk stated that "80% of Tesla's value will be Optimus," suggesting that he believes the robot will surpass the value of both Tesla's core EV business and the robotaxi initiative [4][5]. - The timeline for Optimus's impact remains unclear, but Musk's comments indicate a belief in its future significance [5]. Group 3: Market Position and Competition - Tesla's market share in EVs has fallen to 38%, the lowest since 2017, indicating a potential loss of its previously defined market position [9]. - Competitors like Alphabet's Waymo and Amazon's Zoox are also entering the robotaxi space, highlighting the competitive landscape [11]. Group 4: Financial Performance and Stock Valuation - Tesla's stock has seen recent gains, partly fueled by Musk's purchase of $1 billion in stock and ongoing promises about robotics [9]. - The company currently trades at a high price-to-earnings ratio close to 200, with expectations of falling revenue and profits this year [12].