Tesla delays Robotaxi unveiling, stock drops 8.4%

Tesla Inc. is delaying its robotaxi reveal until October, citing the need for more prototypes. CEO Elon Musk originally set an August date, boosting Tesla's stock, which dropped 8.4% on the delay news. Uber and Lyft shares rose in response. Musk has long championed autonomous tech amid Tesla's production challenges.

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By Dana Hull and Ed Ludlow

Tesla Inc. is postponing its planned robotaxi unveiling to October to allow teams working on the project more time to build additional prototypes, according to people familiar with the decision.

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