If Past Precedents Hold, Tesla Is Likely To Take Over 2 Years To Manufacture the First 1,000 Units of Its Robotaxi After the Unveil Event on the 08th of August

06.04.2024 - 04:21 / wccftech.com / Rohail Saleem

This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.

Tesla needed a phenomenal oomph factor to overcome a veritable volley of negative press in recent days following its first year-over-year decline in quarterly deliveries since the heydays of the pandemic. And Elon Musk seems to have delivered just that by announcing the unveiling date of the much-anticipated Tesla Robotaxi.

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In recent days, the investor sentiment around Tesla reached extremely low levels, which has generally been a potent reversal signal. As per a tabulation by Earnings Whisper, when the sentiment around Tesla dropped to similar levels over the past 15 years, the stock was up three months later nearly 70 percent of the time. Given this insight, we were looking for just such a catalyst that would presumably serve to flip the bearish narrative around Tesla shares.

Today, Elon Musk appears to have given Tesla bulls some much-needed momentum by announcing that the Tesla Robotaxi will be unveiled on the 08th of August, 2024.

Before this announcement, Elon Musk had a blunt altercation with Reuters, which had reported earlier in the day that Tesla was abandoning its $25,000 Model 2 in favor of the Robotaxi. Musk went so far as to call out Reuters for lying. Apparently, the publication's sources misunderstood the notion that although the Robotaxi is expected to leverage the Model 2's platform, it did not mean that the EV giant was abandoning one in favor of the other.

This brings us to the crux of the matter. Troy Teslike, who is famous for reporting quite accurate quarterly delivery numbers for Tesla, has now tabulated the number of days it took Tesla to produce the first 1,000 units of each new product after unveiling it. If one excludes the Semi and the Roadster 2.0, both of whom are yet to reach a cumulative production volume of 1,000 units, it has taken Tesla an average of 829.8 days or 2.27 years to achieve this production milestone. Consequently, we can reasonably expect the Robotaxi to enter volume production in late 2026 or early 2027 if past precedents hold true.