Tesla Prepares for Robotaxi Unveiling in October

Tesla and BYD remain the leading electric vehicle manufacturers, with BYD recently outperforming Tesla in sales figures for 2022 and Q4 2023. In Q2 2024, Tesla delivered 443,956 EVs, while BYD reported record sales of 986,720, with over half of BYD's sales being plug-in hybrids. Tesla is shifting focus towards robotaxis, with a significant event planned for October 10 to unveil its autonomous 'Cybercab', which will operate without traditional driving controls. However, analysts caution that expectations for the event should be tempered, as delays have raised concerns over the company's ability to impress investors. Despite Tesla's challenges, including declining earnings and increased competition, there is optimism about the potential of robotaxi services to capture market share. The upcoming Q3 sales figures for both companies are anticipated to provide further insights into their respective performances.