"Tesla to Unveil Robotaxi on August 8, Musk's Announcement Boosts Shares"

Elon Musk announced that Tesla will reveal its long-promised robotaxi on August 8th, built on the company's next-generation vehicle platform. This comes as Tesla reportedly cancels plans for a more affordable electric vehicle, opting to focus on an autonomous vehicle that Musk believes will make other vehicles obsolete. Musk has long teased the possibility of a Tesla robotaxi, envisioning a "Tesla Network" where owners can earn revenue by sending their autonomous cars to pick up and drop off passengers. However, critics argue that Musk inflates the capabilities of the technology, citing numerous crashes and wrongful death lawsuits involving Tesla vehicles using Full Self-Driving and Autopilot.