Tesla expected to launch long-discussed robotaxi service

TESLA was expected to begin offering robotaxi service yesterday in Austin, an initial step that Elon Musk’s backers believe could lead to the company’s next growth wave.

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The launchwhich comes as Musk refocuses on his business ventures following a controversial stint in Donald Trump’s administration - will employ the Model Y sport utility vehicle rather than Tesla’s much-touted Cybercab, which is still under development.

The long-awaited launch follows the dramatic meltdown earlier this month in relations between Musk and Trump, which saw a cascade of bitter attacks from both men.

Since then, Musk has publicly expressed regret for some of his statements, while his company’s Texas operation has readied the Austin push - part of a major drive on autonomous technology and artificial intelligence that Tesla bulls believe will yield huge profits.

This group includes Wedbush analyst Daniel Ives, who said autonomous technology could be a catalyst for potentially $1 trillion in additional market value or more.