Level 1 - Absolute Beginner
Tesla makes electric cars. The company is also building cars that can drive by themselves.
These self-driving cars are called robotaxis. People can order a ride using an app, and no driver is needed.
The state of Nevada said Tesla can run up to five thousand robotaxis in Las Vegas.
After this news, Tesla's stock price went up more than five percent in one day.
- electric car
- a car powered by batteries instead of gasoline
- robotaxi
- a taxi that drives itself, with no human driver
- app
- a small computer program used on a phone
- permit
- official permission to do something
- stock
- a small share of ownership in a company that can be bought or sold
- surge
- to rise or increase suddenly and quickly
- regulator
- a person or group that makes and enforces rules
- launch
- the start of something new, like a product
Level 2 - Elementary
Tesla's stock price jumped more than five percent after Nevada regulators granted permits allowing the company to operate up to five thousand robotaxis in Clark County, which includes the city of Las Vegas.
Robotaxis are self-driving cars that pick up passengers without a human driver. Riders order a robotaxi using a smartphone app, similar to a regular ride hailing service.
The Nevada approval adds to growing excitement about Tesla's driverless taxi plans. The company is also preparing a Cybercab launch event in Austin, Texas, and public access to that service could begin as soon as late August or September.
Tesla shares also received a boost from an announced launch event in Europe for its all-electric Semi truck, giving investors another reason to feel optimistic about the company's future.
- grant
- to formally give or allow something
- operate
- to run or manage something in action
- passenger
- a person traveling in a vehicle who is not driving it
- smartphone
- a mobile phone with advanced computer-like features
- ride hailing
- a service where people request rides through an app
- boost
- an increase or improvement in something
- investor
- a person who puts money into a company hoping to earn more back
- optimistic
- hopeful and confident about the future
Level 3 - Intermediate
Tesla shares surged more than five percent on Friday after Nevada regulators granted the company permits to operate up to five thousand robotaxis in Clark County, home to Las Vegas, marking one of the largest driverless fleet authorizations Tesla has secured to date.
The permit allows Tesla to expand its autonomous ride hailing ambitions beyond Austin, where the company has already been running a limited robotaxi service, into a second major US market with a permitted fleet size far larger than earlier pilot programs.
Investor enthusiasm was compounded by anticipation surrounding an upcoming Cybercab launch event in Austin, with public access to the purpose built, steering wheel free robotaxi potentially opening as soon as late August or early September, according to timelines the company has signaled.
Tesla also announced a launch event in Europe for its all-electric Semi truck, extending a commercial vehicle program the company says remains on track for production, giving investors multiple simultaneous catalysts behind the stock's rally.
- authorization
- official permission to do something
- autonomous
- able to operate independently without human control
- ambition
- a strong desire to achieve a particular goal
- pilot program
- a small scale trial of a project before full launch
- anticipation
- excitement or expectation about something that will happen
- purpose built
- designed and built specifically for one particular use
- commercial
- related to buying and selling, or business use
- catalyst
- something that causes an important change or event to happen
Level 4 - Advanced
Tesla shares surged more than five percent on Friday after Nevada regulators granted permits authorizing the company to operate up to five thousand robotaxis in Clark County, home to Las Vegas, in one of the most substantial driverless fleet authorizations Tesla has secured since launching commercial robotaxi service.
The approval extends Tesla's autonomous ride hailing ambitions beyond Austin, where a comparatively modest pilot has already been running, into a second major US market with a permitted fleet scale that dwarfs earlier trial deployments and signals regulators' growing comfort with the company's driverless technology.
Investor enthusiasm was compounded by anticipation surrounding an imminent Cybercab launch event in Austin, with public access to the purpose built, steering wheel free vehicle potentially opening as soon as late August or early September, according to timelines company executives have signaled to markets.
Tesla simultaneously unveiled a launch event in Europe for its all-electric Semi truck, extending a commercial freight program the company maintains remains on schedule for production, furnishing investors with converging catalysts that together powered the stock's best week in months.
- substantial
- large in size, value, or importance
- dwarf
- to make something else seem very small by comparison
- deployment
- the act of putting something into use or position
- imminent
- about to happen very soon
- unveil
- to reveal or show something publicly for the first time
- freight
- goods transported commercially by truck, ship, or other vehicle
- converge
- to come together from different directions toward one point
- furnish
- to provide or supply something needed
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