Barclays: Robotaxi may face a long approval process, gives Tesla a "hold" rating
Barclays has given Tesla a "hold" rating, expecting its autonomous taxi (Robotaxi) to face a lengthy approval process. Analysts pointed out that Tesla's Robotaxi approval in California may be prolonged, with limited engagement with regulators. Tesla has launched Robotaxi services in Texas and plans to open to the public in September, but the service in California differs from that in Texas. Tesla has obtained all necessary permits in Texas and plans to operate as a licensed transportation network company
According to Zhitong Finance APP, Barclays recently gave Tesla (TSLA.US) a "hold" rating and expects that Tesla's autonomous driving taxi (Robotaxi) will face a "long" approval process. The bank's analysts stated, "In California, the approval process for a 'real' Robotaxi may be lengthy, and Tesla must apply for and obtain a series of permits before providing Robotaxi services." "Additionally, media reports indicate that Tesla's interactions with California regulators are more limited than people realize. The current promotion of Tesla's Robotaxi is also more limited than people imagine."
It is reported that in June of this year, Tesla officially launched its Robotaxi service in Austin, Texas, beginning to pick up the first batch of passengers. This pilot service is initially only available to a small number of users, and the fleet size is also limited.
In recent times, Tesla has been continuously expanding the number of users for Robotaxi trials and the geographical boundaries. In addition to Texas, Tesla has also launched Robotaxi services in the San Francisco Bay Area of California, but the service is slightly different from that in Texas. In Texas, the safety monitor for the Robotaxi sits in the passenger seat, while in California, the safety monitor sits in the driver's seat.
According to a message posted by Tesla CEO Elon Musk on social media, Tesla's Robotaxi service in Austin will be open to the public in September. Notably, Tesla has previously obtained the necessary permits and approvals from Texas regulators to expand its operations statewide and will operate this service as a licensed transportation network company until August 2026
