Tesla's recent launch of its Robotaxi service in Austin has attracted significant attention from investors, prompting Benchmark to raise its price target on Tesla stock. Analyst Mickey Legg commended the pilot for its safety-focused strategy, which may enhance public and regulatory trust. He emphasized Tesla's advantage in a camera-only approach to autonomous driving, contrasting it with the higher costs of competitors' systems. New regulatory measures in Texas are expected to support the expansion of autonomous services, further strengthening Tesla's market position and growth potential in the robotics sector.
Benchmark analyst Mickey Legg praised the Robotaxi service pilot's "controlled and safety-first approach," adding that it could help Tesla earn the trust of regulators and the general public.
We are a believer in Tesla's camera-focused approach that is not only cost effective but also scalable," he noted.
New regulations for autonomous vehicles are set to go into place on Sept. 1 in TX that we believe will further help win trust and pave the way for expansion to additional cities.
Legg sees Tesla evolving beyond its roots as an electric vehicle manufacturer into a leader in robotics and autonomous technologies.
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