Robotaxi Launches in Miami; Model YL Debuts in the US

Research evidence excerpt

Robotaxi Launches in Miami; Model YL Debuts in the US

Update

July 6, 2026 03:14 PM GMT

Morgan Stanley & Co. LLCMTesla Inc | North America Andrew S Percoco

Equity Analyst

Robotaxi Launches in Miami; Andrew.Percoco@morganstanley.comDaniela M Haigian +1 212 296-4322

Daniela.Haigian@morganstanley.com +1 212 761-6071

Model YL Debuts in the US Jahvonte G Bain

Research Associate

Jahvonte.Bain@morganstanley.com +1 212 761-9231

Tesla launched robotaxi in Miami over the weekend. Tesla launched robotaxi

Katherine A Bennorth

Miami (including unsupervised vehicles) on Friday, July 3rd. Miami was listed as Research Associate

"preparations underway" in the 1Q26 slide deck, along with Phoenix, Orlando, Katie.A.Bennorth@morganstanley.com +1 212 761-3753

Tampa, and Las Vegas. We expect Tesla to launch in all of these metro areas by year- Tesla Inc (TSLA.O, TSLA US)

end. Additionally, there have been some sightings of presumed robotaxi test Autos & Shared Mobility | United States of America

vehicles in New Orleans (not confirmed by the company), which was not one of the Stock Rating Equal-weight

Industry View In-Line

cities listed as being in the preparation stage in the last earnings presentation. We

Price target $415.00

believe this news will be well received by the market after what had felt like a Shr price, close (Jul 2, 2026) $393.45

Mkt cap, curr (mm) $1,392,026

deceleration with the Robotaxi Tracker reflecting a decline in active vehicles in fleet 52-Week Range $498.83-288.77

since late April (although this data is not validated by the company).

July 7th Catalyst? We are watching for an update tomorrow on Cybercab

production following an interview last week with Lars Moravy (VP of Vehicle

Engineering at Tesla) where it was mentioned that there will be an announcement at