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Tesla Inc. (NASDAQ:TSLA) has reportedly cleared a key Robotaxi hurdle, which could help the EV giant expand into Nevada.
The automaker has cleared the self-certification process for its Robotaxis, which indicates that it can deploy autonomous vehicles on the roads in the state, Business Insider reported on Friday.
Tesla and the Nevada DMV didn't immediately respond to Benzinga's request for comment.
Commercial operations for its Robotaxi would still require Tesla to receive regulatory approval from the Nevada Transportation Authority. The report suggests that Tesla has yet to submit its application to obtain a permit to operate Robotaxis commercially within the state.
The news comes as Tesla CEO Elon Musk, during the automaker's third-quarter earnings call last month, claimed that Tesla would expand the Robotaxi into Nevada, Arizona and Florida by the end of 2025.
However, the CEO scaled back on a major Robotaxi ambition of serving over half the U.S. population with Tesla autonomous cabs by the end of the year, with the automaker now targeting expanding into 8-10 major cities across the U.S.
Musk also recently said that Tesla would also have its Nvidia Corp (NASDAQ:NVDA) moment once it can reach Unsupervised Full Self-Driving operations at scale. Meanwhile, FSD has been under the radar of safety regulators, with NHTSA launching a probe into the technology following reports of traffic violations and accidents.
Tesla's FSD V14 has garnered praise from experts like Ross Gerber, who termed the updates as a “big step up” from the technology's earlier version. Investor Gary Black, who is the managing director of the Future Fund LLC, also praised Tesla’s FSD v14 for its improvements.
Musk, on the other hand, said that the FSD v14.3, the upcoming update to the self-driving technology, would be the "last big piece of the puzzle," hinting at the possibility that Tesla could finally achieve unsupervised autonomy.
Tesla scores well on Momentum and Quality metrics, while offering satisfactory Growth, but poor Value. Tesla also has a favourable price trend in the Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!
Price Action: TSLA, despite sliding 1.05 to $391.01 at market close on Friday, surged 0.70% to $393.83 during after-hours trading, according to Benzinga Pro data.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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