Elon Musk's Tesla Teases FSD Capabilities Ahead Of June Robotaxi Event

Tesla Inc. TSLA has touted the company's FSD (Full Self-Driving) technology ahead of next month's Robotaxi launch in Austin, Texas.

What Happened: A video posted by a handle on X called Whole Mars Catalog showcased a Tesla vehicle navigating its way through traffic using Supervised FSD near Los Angeles's LAX airport on Saturday.

Tesla's official handle on X then quoted the video on Sunday. "LAX is no problem for FSD Supervised," the EV giant said in the post. The post was also reposted by Tesla CEO Elon Musk.

Why It Matters: As Musk's EV giant is gearing itself up for the launch of its robotaxi in Austin, the company has hit a snag as the U.S. Patent and Trademark Office refused to grant the company trademarks on "Robotaxi" as well as "Cybercab."

Elsewhere, Tesla asked its workers to stay at home as the company extended the Memorial Day break amid a 13% drop in deliveries and inventory piling up at Tesla dealerships.

On the other hand, the EV manufacturer continues to wrestle with poor sales figures both within the U.S. as well as in regions like Europe. Recently, the company also offered free FSD transfers for its customers on all of its models in a bid to boost sales.

However, analysts are still optimistic about Musk's company's future as analyst Gary Black believes that Tesla will reap the benefits of increased EV adoption as well as autonomous driving.

Price Action: TSLA gained 7.41% in Pre-Market trading and is currently valued at $320.35, according to Benzinga Pro data.

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