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Elon Musk Says Tesla Will Unveil Robotaxi in August

Elon Musk says Tesla will unveil its robotaxis on August 8, 2024. Patrick T. Fallon / AFP/File
Elon Musk says Tesla will unveil its robotaxis on August 8, 2024. Patrick T. Fallon / AFP/File
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Elon Musk Says Tesla Will Unveil Robotaxi in August

Elon Musk says Tesla will unveil its robotaxis on August 8, 2024. Patrick T. Fallon / AFP/File
Elon Musk says Tesla will unveil its robotaxis on August 8, 2024. Patrick T. Fallon / AFP/File

Elon Musk revealed Friday that Tesla will pull back the curtain on a robotaxi this summer, news that comes as adoption of self-driving vehicles hits speed bumps over safety concerns.
The billionaire boss of the electric car maker did not provide details, saying only in his post on X that the "Tesla Robotaxi unveil" will come on August 8.
Tesla shares rose more than three percent in after-market trades following the post, after finishing the day down, AFP said.
Musk has long boasted of work Tesla is doing on its systems for electric cars to drive themselves.
Tesla models with FSD (Full Self-Driving) "will be superhuman to such a degree that it will seem strange in the future that humans drove cars, even while exhausted and drunk!" he said in a post on X in March.
Musk has also said that owners of Tesla vehicles with FSD will be able to have their cars serve as robotaxis, rather than remain idly parked.
Despite its potential, rollout of self-driving vehicles in the United States has been tentative and rocky so far as both regulators and the public voice safety concerns.
San Francisco has been a testing ground for the technology.
Robotaxis from Google's Waymo in the city have been targeted by vandals opposed to autonomous vehicles, while GM-owned Cruise indefinitely suspended its robotaxi service at the end of October after several accidents sparked a crackdown by California regulators.
Tesla's "autopilot" feature has also come under scrutiny, facing accusations the marketing of the feature oversold its actual capabilities.
Tesla's robotaxi reveal came on the heels of a Reuters report that the company had abandoned Musk's long-touted plan to manufacture an electric car model selling close to $25,000 to drive adoption in the mass market.
Musk fired off a post denying the report.
Tesla this week reported sharply lower first-quarter auto sales amid an underwhelming demand outlook for electric vehicles, while legacy players including Toyota rode improved US inventories to higher sales.
Musk's auto giant reported global deliveries fell 8.5 percent in the quarter, reflecting in part a weak sales market in China, where it faces heavy competition from local electric vehicle makers.
Wedbush analyst Dan Ives called the quarterly results "an unmitigated disaster."

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US May Target Samsung, Hynix, TSMC Operations in China

A man walks past the logo of Samsung Electronics displayed outside the company's Seocho building in Seoul on April 30, 2025. (Photo by Jung Yeon-je / AFP)
A man walks past the logo of Samsung Electronics displayed outside the company's Seocho building in Seoul on April 30, 2025. (Photo by Jung Yeon-je / AFP)
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US May Target Samsung, Hynix, TSMC Operations in China

A man walks past the logo of Samsung Electronics displayed outside the company's Seocho building in Seoul on April 30, 2025. (Photo by Jung Yeon-je / AFP)
A man walks past the logo of Samsung Electronics displayed outside the company's Seocho building in Seoul on April 30, 2025. (Photo by Jung Yeon-je / AFP)

The US Department of Commerce is considering revoking authorizations granted in recent years to global chipmakers Samsung, SK Hynix and TSMC, making it more difficult for them to receive US goods and technology at their plants in China, according to people familiar with the matter.

The chances of the United States withdrawing the authorizations are unclear. But with such a move, it would be harder for foreign chipmakers to operate in China, where they produce semiconductors used in a wide range of industries, Reuters said.

A White House official said the United States was "just laying the groundwork" in case the truce reached between the two countries fell apart. But the official expressed confidence that the trade agreement would go forward and that rare earths would flow from China, as agreed.

"There is currently no intention of deploying this tactic," the official said. "It's another tool we want in our toolbox in case either this agreement falls through or any other catalyst throws a wrench in bilateral relations."

Shares of US chip equipment makers that supply plants in China fell when the Wall Street Journal first reported the news earlier on Friday. KLA Corp dropped 2.4%, Lam Research fell 1.9% and Applied Materials sank 2%. Shares of Micron, a major competitor to Samsung and SK Hynix in the memory chip sector, rose 1.5%.

A TSMC spokesman declined comment. Samsung and Hynix did not immediately respond to requests for comment. Lam Research, KLA and Applied Materials did not immediately respond, either.

In October 2022, after the United States placed sweeping restrictions on US chipmaking equipment to China, it gave foreign manufacturers like Samsung and Hynix letters authorizing them to receive goods.

In 2023 and 2024, the companies received what is known as Validated End User status in order to continue the trade.

A company with VEU status is able to receive designated goods from a US company without the supplier obtaining multiple export licenses to ship to them. VEU status enables entities to receive US-controlled products and technologies "more easily, quickly and reliably," as the Commerce Department website puts it.

The VEU authorizations come with conditions, a person familiar with the matter said, including prohibitions on certain equipment and reporting requirements.

“Chipmakers will still be able to operate in China," a Commerce Department spokesperson said in a statement when asked about the possible revocations. "The new enforcement mechanisms on chips mirror licensing requirements that apply to other semiconductor companies that export to China and ensure the United States has an equal and reciprocal process.”

Industry sources said that if it became more difficult for US semiconductor equipment companies to ship to foreign multinationals, it would only help domestic Chinese competitors.

"It’s a gift," one said.