Tesla (TSLA) seems to be preparing to launch its Robotaxi service in a new city, Plano, Texas, located northeast of Dallas. If confirmed, this would mark the first time the company expands its autonomous ride-hailing services to a second city within the same U.S. state. TSLA stock was up over 4% during Wednesday’s trading session.
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According to a post by @InnovatingCoin on Elon Musk‘s X platform, Tesla Model Ys, equipped with LiDAR rigs, were seen operating in Plano. These vehicles are used to map new regions and validate the accuracy of the Full Self-Driving (FSD) system before a public rollout.
The presence of these validation vehicles suggests a potential service launch in the near term.
More States Approve Tesla Robotaxi Trials
The expansion into Plano follows recent regulatory successes. Last week, the Arizona Department of Transportation approved Tesla to begin autonomous robotaxi trials. This makes Arizona the fourth U.S. state, joining California, Texas, and Nevada, to grant the company regulatory approval.
Currently, Tesla’s Robotaxi operations vary by state. In Texas, the driver’s seat is only occupied by a safety monitor when the route requires highway travel. Meanwhile, in California, TSLA maintains a more cautious approach. It requires a safety monitor to remain in the driver’s seat for the entire duration of the operation.
While the use of safety monitors has drawn criticism, Tesla views it as a necessary and temporary safety measure to ensure that its self-driving technology moves forward safely.
What Is the Prediction for Tesla Stock?
Turning to Wall Street, TSLA stock has a Hold consensus rating based on 15 Buys, 12 Holds, and eight Sells assigned in the last three months. At $329.77, the average Tesla price target implies a 25.6% downside risk. The stock has gained 47.8% over the past six months.
