India, May 15 -- Tesla shares dipped two percent Thursday after revelations that the company repurposed off-lease vehicles once earmarked for its promised robotaxi fleet by software upgrading and reselling them to new customers.
In 2019, Tesla introduced a policy barring lessees of its Model 3 sedan and later its best-selling Model Y SUV from purchasing their cars at lease-end. Elon Musk had assured investors these returns would populate a forthcoming autonomous ride hailing network. "You don't have the option of buying," he declared, forecasting over a million robotaxis on the road by 2020.
Despite bold predictions, Tesla's self-driving service never launched. The company quietly reversed its no purchase rule in November 2024. According ...