Tesla (TSLA, Financials) shares rose 2.71% in premarket trading to $231.41 as of Wednesday at 5:21 a.m. GMT-4, after the company secured a Transportation Charter Permit from the California Public Utilities Commission.
While the regulatory permission lets Tesla run a fleet of cars with staff drivers, it does not approve public ride-hailing services or autonomous car deployment.The TCP varies from Transportation Network Company licenses used by Uber (UBER, Financials) and Lyft (LYFT, Financials), which let users link with drivers using personal automobiles. Rather, Tesla must inform the CPUC before extending services to the public and first use the permission for planned staff transportation.Before legally running fully autonomous robotaxis in the state, Tesla will require further permits from both the CPUC and the California Department of Motor Vehicles, albeit obtaining this authorization.Under its "unsupervised" Full Self-Driving technology, separately Tesla intends to launch its first autonomous ride-hailing service in Austin, Texas, using cars running without human drivers in June.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.