Tesla gets rideshare license in Texas for robotaxi service

Investing.com -- Tesla Inc (NASDAQ: TSLA) has obtained a rideshare license in Texas, clearing the path for its robotaxi service to operate under new state regulations for autonomous vehicles.

According to Bloomberg News, Tesla Robotaxi LLC now appears as a transportation network company licensee with the Texas Department of Licensing and Regulation, alongside established players like Uber Technologies Inc . (NYSE: UBER) and Lyft Inc (NASDAQ: LYFT).

The license became necessary under a new Texas law taking effect September 1, which will regulate autonomous vehicle rideshare operations in the same manner as human-driven services.

Tesla began operating an autonomous rideshare service in Austin in June.

Following this news, shares of Uber and Lyft declined while Tesla stock gained.

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