Tesla Stock Rises Pre-Market As Musk Says Bye To DOGE, Robotaxi Hype Builds
Synopsis
Reports suggested that the electric vehicle maker is preparing to launch its robotaxi service in Austin on June 12.
Tesla Inc shares rose in early premarket trading on Thursday after reports that the electric vehicle maker is preparing to launch its robotaxi service in Austin on June 12.
Adding to investor optimism, CEO Elon Musk confirmed his departure from a temporary role as a senior adviser in the Trump administration.
Tesla closed Wednesday’s session down 1.7% at $356.90 but gained 2.8% in pre-market trading to $366.82.
A person familiar with the matter told Bloomberg that Tesla discussed the internal target date for the robotaxi rollout, which could still change.
In a post on X, Musk said, “For the past several days, Tesla has been testing self-driving Model Y cars (no one in driver’s seat) on Austin public streets with no incidents. A month ahead of schedule. Next month, first self-delivery from factory to customer.”
The development came as Musk announced he was leaving his role at the Department of Government Efficiency (DOGE), a quasi-agency created under President Donald Trump’s administration.
Musk’s exit follows his public criticism of Trump’s latest budget proposal, which includes multi-trillion-dollar tax cuts and increased defense spending.
He told CBS the plan would expand the U.S. federal deficit.
The DOGE role allowed Musk to serve up to 130 days annually as a federal employee.
His exit, though anticipated, has drawn attention amid mounting investor pressure for him to refocus on Tesla’s core operations.
Musk has said Tesla’s future depends heavily on autonomous driving.
Texas, where Tesla is headquartered, has looser regulations for autonomous vehicles than many other U.S. states, making it a key testing ground.
Tesla has been operating its Full Self-Driving (FSD) software with safety drivers across the city.
The stock has declined 5.9% so far in 2025.
Heading into Thursday’s market open, Tesla was among the top five most active tickers by message volume on Stocktwits in the last 24 hours, while sentiment was neutral.
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