Tesla Navigates Political Challenges While Advancing Robotaxi Ambitions

Tesla shares edged 1.4% higher in premarket trading to $345.74, attempting to secure a fifth consecutive weekly gain. The stock must close above $349.98 to maintain its upward trajectory, despite recent legislative headwinds.

Political pressures mounted as the House passed measures eliminating EV tax credits and imposing annual fees on electric vehicle owners. Simultaneously, the Senate voted to revoke California’s air quality regulatory authority, potentially jeopardizing Tesla’s lucrative zero-emission credit revenue stream.

CEO Elon Musk confirmed plans to launch a robotaxi service in Austin this June, initially operating with human oversight. The announcement comes as Wedbush analyst Dan Ives raised his price target to $500, projecting a staggering $2 trillion valuation within 18 months.