Tesla's Ride-Hailing Service Is Now Live In The San Francisco Bay Area, No Mention Of Robotaxi [UPDATED]

Editor’s Note: The story has been updated to reflect the correct nature of the launch.

Tesla Inc. TSLA has launched its ride-hailing operations in the San Francisco Bay Area, a month after officially introducing its robotaxi in Austin, Texas.

Check out the current price of TSLA stock here.

What Happened: "Tesla's ride-hailing service is officially live in the Bay Area in their Robotaxi app," influencer Sawyer Merritt said in a post on social media platform X on Wednesday.

The company's serviceable area spans the Golden Gate Bridge in the North and extends South of San Jose. "It would take about 1-2 hours (up to 75 miles) depending on traffic to ride from the top to the bottom of the geofence area," Merritt said in the post.

The influencer also shared a photo showcasing the difference in serviceable area between Tesla and Alphabet Inc.'s GOOGL GOOG Waymo.

Why It Matters: The news comes as CEO Elon Musk had shared the target of serving over half the population of the U.S. with Tesla robotaxis by the end of 2025 during the company's earnings call. Musk had earlier shared plans to operate Robotaxis in the Bay Area.

This also coincides with Morgan Stanley's report, which says that the autonomous driving market in the U.S. could be worth over $200 billion by the year 2030 and generate up to $400 billion in revenue by 2035.

However, Tesla could face increased scrutiny as President Donald Trump's pick to lead the NHTSA, Jonathan Morrison, has called for tougher oversight on autonomous driving in the U.S.

Tesla scores well on Momentum and Quality, while offering satisfactory Growth, but poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!

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