Tesla’s budding “Robotaxi” network drove fewer miles for paying customers in the second quarter than it did in the first, according to a chart the company released on Wednesday.
The quarter-over-quarter decline runs counter to Tesla’s rhetoric and actions in the past year. Tesla has staked much of its future on the idea of a massive, low-cost, cash-generating Robotaxi fleet — or going “balls to the wall for autonomy,” as CEO Elon Musk framed it in 2024. The quarterly step-down in Robotaxi miles also comes amid weakening profits in Tesla’s core businesses, which underperformed Wall Street’s expectations, according to figures released Wednesday. Tesla’s stock plunged more than 13% in early trading on Thursday.
