Tesla eyes a limited robotaxi launch in the San Francisco area this weekend

Tesla (NASDAQ:TSLA) is reportedly preparing to launch its robotaxi service in San Francisco as soon as this weekend. According to several media reports, Tesla (NASDAQ:TSLA) informed its staff that the original timeline for the launch has been accelerated, with a staff memo suggesting the rollout could even occur beginning on Friday. The geofenced area where the robotaxi service will operate covers a large portion of the Bay Area.

Elon Musk said during Tesla’s (TSLA) quarterly earnings call earlier this week that its robotaxis will operate with a safety operator in the front seat during the initial deployment in the Bay area. The company has also indicated that some Tesla (TSLA) owners will be invited to use the robotaxi service and will pay for their rides, which marks a notable incremental step toward broader public access.

A spokesperson for the California DMV told Business Insider that the agency recently met with Tesla (TSLA), but noted that the company has yet to apply for a permit for driverless testing or deployment.

Elon Musk asserted that the robotaxi business could have a material impact on Tesla’s (TSLA) business by the end of the year as it expands to new markets. However, analysts have set consensus profit estimates on Tesla (TSLA) for Q3 and Q4 below what the company reported a year ago.

Shares of Tesla (TSLA) opened 1.7% higher to $310.51 vs. the 52-week range of $182.00 to $488.54. The market cap on Tesla (TSLA) is lingering right below the $1 trillion mark.