Nevada Just Raised Tesla's Las Vegas Robotaxi Cap From 10 Vehicles to 5,000
Regulators just multiplied the permitted Las Vegas fleet 500-fold. Deploying it is the harder part.
Overview
Until last Thursday, Tesla (NASDAQ:TSLA) was allowed to operate exactly 10 robotaxis in Las Vegas, confined to a corridor of the Strip. Then, on Aug. 20, the Nevada Transportation Authority voted unanimously to raise that ceiling to 5,000 driverless vehicles in Clark County over the next 12 months.
Tesla wasn't the only winner. Waymo received a permit for up to 1,000 vehicles in the same session, and Uber another 1,000. All told, the approvals clear the way for as many as 7,000 paid robotaxis in the county that includes Las Vegas.
Details
For a stock priced largely on its autonomy future, that is a milestone. But a permit is a ceiling, not a fleet. And I think the distance between what's permitted and what's actually deployed is the thing for investors to watch.
Source
Originally published at www.fool.com.