Barclays: Robotaxi may face a long approval process, giving Tesla, Inc. (TSLA.US) a "hold" rating.

Barclays recently gave Tesla, Inc. (TSLA.US) a "hold" rating and predicted that Tesla, Inc.'s self-driving Robotaxi will face a "lengthy" approval process. The analyst from the bank stated, "In California, the approval process for a 'true' Robotaxi may be lengthy, and Tesla, Inc. must apply for and obtain a series of permits before offering Robotaxi services." "In addition, media reports indicate that Tesla, Inc.'s interactions with California regulators are more limited than people realize. The current promotion of Tesla, Inc.'s Robotaxi is also more limited than people imagine." It is reported that in June of this year, Tesla, Inc. officially launched Robotaxi services in Austin, Texas, starting to transport the first group of passengers. The pilot service initially targeted only a small number of users, and the fleet size was also limited. Over the past period, Tesla, Inc. has been expanding the number of Robotaxi trial users and the geographic scope of service. In addition to Texas, Tesla, Inc. has also introduced Robotaxi services in the San Francisco Bay Area of California, but with slight differences from the Texas service. In Texas, the safety monitor for the Robotaxi sits in the front passenger seat, while in California, the safety monitor sits in the driver's seat. According to a message posted by Tesla, Inc. CEO Elon Musk on social media, Tesla, Inc.'s Robotaxi service in Austin will be open to the public in September. It is worth noting that Tesla, Inc. has already obtained permits from and approval of Texas licensing and regulatory authorities, obtaining all necessary permits to expand statewide operations in Texas and operating this service as a licensed transportation network company until August 2026.