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Elon Musk's Tesla Secures First Approval Towards Rolling Out Robotaxi In California - Tesla (NASDAQ:TSLA)

1. Tesla granted its first TCP permit in California for robotaxi service. 2. Permit allows managing vehicles for pre-arranged trips, not autonomous rides yet. 3. Sales in California reached a four-year low, affecting Tesla's growth strategy. 4. Focus on robotaxis aligns with Tesla's vision amid declining EV sales. 5. Plans for Austin robotaxi service launch by June seen as a bullish development.

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FAQ

Why Bullish?

The TCP permit opens new revenue streams, similar to Uber's impact post-licensing.

How important is it?

The permit is critical for Tesla's strategic pivot in the ride-hailing market.

Why Long Term?

Robotaxi operations, once established, can significantly influence Tesla's market position and sales.

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