CEO Elon Musk announced that Tesla is set to unveil its robotaxi on August 8.

Tesla's robotaxi project has been part of Musk's project for years, hinting at a new wave for the business to grow further this year.

Read Also: Tesla EV Sales Drop Amid Increasing Competitive US Market

Tesla to Launch Robotaxi on August

Tesla has been experiencing a period of slowing growth in the past months. Investors are also getting wary of the future of electric vehicles as the market has seemed to slow down amid several ventures of different carmakers.

Previously, Reuters reported that Tesla has scrapped its low-cost car project. However, the CEO was quick to debunk the claim, calling out the publication's report as a form of "lying."

In an X post, Musk straightforwardly announced the launch of Tesla's new product. No other details or additional information was given by the CEO aside from its release date. The post has now reached 12.6 views as of writing.

Tesla Continues to Push EV Innovation to Consumers

Tesla has yet to deliver its promise to develop a robotaxi or technology that can function as "level 3" automation, which has been the company's goal since 2015. Currently, Tesla is offering advanced driver assistance systems which include the premium Full Self-Driving (FSD) option.

The FSD charges $199 per month for U.S. subscribers or $12,000 upfront. In addition, Musk also required all sales and service staff to install and demo the option for customers before handing over the keys.

"Almost no one actually realizes how well (supervised) FSD actually works. I know this will slow down the delivery process, but it is nonetheless a hard requirement," the CEO wrote in an email to employees.

Outside its car production and automation, Tesla has been expanding its Supercharger stations across the states and the globe. Recently, the state of Maine opened its first NEVI EV Tesla Supercharger station.

Related Article: Tesla Customers Are Required to Learn Using the FSD Feature to Finalize Delivery