Tesla will expand its robotaxi service to the San Francisco Bay Area "in a month or two", depending on regulatory approvals, CEO Elon Musk said on Wednesday.

Trading at a forward price-to-earnings (P/E) ratio of more than 150 times 2025 analyst estimates, Tesla's valuation still reflects a future where autonomous driving becomes mainstream, and where Tesla, not Waymo or another company, is the dominant player. That's a huge bet, and right now, it wouldn't be the robotaxi company I'd wager on.

Tesla CEO Elon Musk said Robotaxi will expand its service area in Austin and will come to the Bay Area in 1-2 months pending regulatory approval.

Tesla has scheduled an annual shareholders meeting for November, one day after the electric vehicle company came under pressure from major shareholders to do so

Tesla’s stock price has been falling, and sales are down because of increased competition, an aging product lineup and Elon Musk’s immersion in right-wing politics.

In the spring, the Tesla board asked CEO Elon Musk to refocus his attention on the company after he spent several months working with President Trump at the White House. Annual shareholder meetings give investors an opportunity to vote on matters such as executive pay and who sits on the board of directors.