Tesla is nearing the launch of its robotaxi service, and the stock is experiencing a strong increase!

Tesla has obtained its first basic licenses from the state of California, paving the way for the launch of its robotaxi service, according to the California Public Utilities Commission and reported by Reuters.

The commission approved granting Tesla a transportation network company license, which is typically used for services that involve drivers, allowing the company to manage and operate a fleet of vehicles and transport employees through pre-scheduled rides. However, the commission clarified that this license does not permit Tesla to operate self-driving vehicles or launch the service to the general public just yet.

Tesla's Plans for the Future of Autonomous Transport

Amid slowing sales growth, CEO Elon Musk is increasingly focusing on self-driving car projects, having promised last year to roll out robotaxi services in California and Texas by 2025. Last October, Tesla unveiled its revolutionary vehicle, the "Cyber Cab," which is a fully autonomous taxi without a steering wheel or control pedals.

The utilities commission confirmed that Tesla applied for a transportation network company license in November 2024 but has not yet obtained all the required licenses to officially launch the service.

Tesla's Stock Performance in the Markets

Tesla's stock (NASDAQ: TSLA) rose notably by 2.71%, reaching $231.42, an increase of $6.11 in pre-market trading, amid positive expectations regarding the company's future in autonomous transport.

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