Shares of electric car company Tesla rose more than 5% after CEO Elon Musk announced the launch of the company's "robotaxi" in early August.
Last week, Tesla CEO Elon Musk said in a post on the X website that his company will unveil its “robotaxi” product on August 8.
The upcoming product, which Musk has talked about for years, could represent major new business for the automaker, reducing investor anxiety during a period of slowing growth for the company.
Musk's announcement of the unveiling date of the new car, Friday, April 5, coincided with a Reuters report that plans for the long-awaited low-cost Tesla car model had been cancelled. Musk accused Reuters of "lying."
