Tesla Inc. (NASDAQ:TSLA) is pressing its autonomy bet harder, and the latest Bank of America note suggests the market may finally be taking the rollout seriously.
The firm notes that Tesla has added Miami as its fifth robotaxi market and is scaling its Texas fleet at the fastest pace among operators it tracks. The combination matters because it shifts Tesla’s story from promise to visible expansion, even if the network is still early and uneven.
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Tesla Adds Robotaxi Markets and Vehicles
Tesla’s Texas fleet now stands at 175 vehicles, up by more than 100 in the past month, according to the note. That kind of growth gives Tesla a stronger case that its robotaxi effort is more than a demo. It is building an actual operating footprint.
Bank of America also points out that Tesla now has four additional markets in preparation, which suggests the company is still pushing toward the original goal of nine cities by the first half of 2026. Miami’s launch adds another proof point that Tesla wants to expand quickly while interest in autonomous driving remains high.
The research note also says Tesla was about 21% cheaper than Waymo, Uber and Lyft in a San Francisco pricing study, although wait times were three to four times longer. The gap suggests demand is there, but supply is still limited, which can be a positive sign for future utilization if Tesla can keep scaling.
The robotaxi push is only one part of the bull case. Tesla’s second-quarter deliveries came in around 480,000, far above Street expectation. BofA also says the company likely gained global battery-electric vehicle share which helps offset worries that the core auto business is slowing.
The Takeaway
Bank of America kept its Buy rating and $460 price target on TSLA. The firm views Tesla as trying to turn autonomy into a real business while the EV business still supports the base case.
For now, the most important question is whether the company can keep adding markets, vehicles and usage fast enough to justify its robotaxi ambition.
TSLA Stock Price Activity: Tesla stock was down 2.32% at $381.98 at the time of publication Friday, according to data from Benzinga Pro.
Over the past month, TSLA has declined about 5.0% versus a 0.9% decline in the S&P 500 and is down roughly 17% year-to-date compared to the index’s 8.5% gain.
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