Musk sounds cautious tone on robotaxis amid slower-than-expected rollout

Tesla CEO Elon Musk struck a notably cautious tone on the company’s robotaxi rollout during the April 23, 2026 earnings call, saying deployments will be limited to “a dozen or so states” by year-end and that robotaxis likely will “not be super material this year” but should be “material” next year. Analysts said the update suggests the autonomous ride‑hailing business is progressing slower than investor expectations, trimming near‑term upside for TSLA shares. Investors reacted negatively—Tesla stock fell about 3.5% intraday—and analysts highlighted a nominal number of driverless vehicles and slow initial Cybercab production. The comments reinforce risk to the growth narrative that underpins much of Tesla’s valuation, while some analysts welcomed the cautious, safety‑first approach that could reduce operational and regulatory setbacks.