Tesla is delaying its planned robotaxi unveiling to October to allow teams working on the project more time to build additional vehicle prototypes, according to people familiar with the decision.

Chief executive officer Elon Musk set the initial August 8 date for the event months ago, and optimism about the spectacle has contributed to an 11-day streak of gains that’s added more than $US257 billion to Tesla’s market capitalisation. The stock fell 8.4 per cent to $US241.03.

Bloomberg