Tesla Shares Jump 4% as Cybercabs Become Majority of Its Texas Robotaxi Fleet

Tesla Shares Jump 4% as Cybercabs Become Majority of Its Texas Robotaxi Fleet

Tesla shares rose 4.04 percent on Tuesday to close at $407.46, as investors cheered fresh signs that the company's driverless Cybercab is moving from showcase vehicle to working robotaxi. The gain extended a rally that began on Monday and put Tesla among the day's strongest performers in the Magnificent Seven tech stocks.

The excitement follows Texas Department of Motor Vehicles data showing Tesla's authorised robotaxi fleet in the state now numbers 1,051 vehicles, of which 544 are Cybercabs and 507 are Model Ys — the first time the purpose-built, steering-wheel-free Cybercab has formed the majority. As recently as early October, the registry showed only about 319 Cybercabs against 420 Model Ys, a rapid shift that suggests Tesla is scaling up production of its dedicated robotaxi.

On its third-quarter earnings call, Tesla said it plans to add Cybercabs in Dallas next month and aims to offer them to fleet customers by year-end, though most will remain Tesla-owned. Vice President of Vehicle Engineering Lars Moravy said the company is building at the rate the robotaxi service needs. Not everyone is convinced the lead is unassailable: some investors warn that rivals such as Waymo and Baidu are expanding fast, and that Tesla's high valuation leaves little room for setbacks in the robotaxi race.

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