Tesla has launched its long-awaited robotaxi network in Austin, Texas, using a small number of vehicles. The initial rollout features around 10 to 20 Model Y vehicles and includes safety operators to monitor the vehicles. Only selected Tesla customers can access the service at this stage. Despite a delayed launch, the announcement led to an 8% stock increase, boosting Elon Musk's stake by approximately $10 billion.

Tesla faces increasing competition in the robotaxi domain, especially from companies like Alphabet's Waymo, which operates in several cities and provides almost 4 million rides quarterly. Other competitors such as Amazon's Zoox and Volkswagen are entering the field, placing pressure on Tesla to significantly scale its operations.

Tesla's previously strong competitive advantage in electric vehicles and autonomy is being questioned due to declining vehicle sales and delayed robotaxi projects. The company's valuation currently depends heavily on speculative future success in the robotaxi market, which may take years to materialize. Investors remain concerned about Tesla's execution and high stock valuation amid a lack of clear growth in core business areas.