Tesla and Rivian shares decline 12% year-to-date, with Tesla’s robotaxi expansion seen as a potential margin driver amid valuation concerns.
Tesla and Rivian Automotive shares have fallen 12% each in 2026, reflecting broader struggles in the electric vehicle sector. Tesla’s pivot toward autonomy, including its robotaxi service in U.S. cities like Austin and Dallas, aims to transform its business model into a higher-margin services operation. The company plans to expand the service and develop its Cybercab, though skepticism remains over repeated delays in full autonomy delivery.
Rivian’s narrative contrasts with Tesla’s, focusing on vehicle production and market positioning. Tesla’s valuation remains elevated, with significant future growth already priced in, while CEO Elon Musk’s public statements continue to influence investor sentiment. Both stocks face headwinds, but Tesla’s robotaxi initiative is seen as a key differentiator for the second half of the year.