TLDR
- Tesla plans to expand robotaxi service to Brooklyn, New York, despite challenging traffic conditions
- TSLA stock gained 2.19% on Monday, closing at $309.26
- Tesla board granted Elon Musk new $29 billion stock award vesting in two years
- China-made Tesla sales dropped 8.4% year-over-year and 5.2% month-over-month in July
- TSLA shares remain down nearly 20% year-to-date despite recent gains
Tesla stock climbed 2.19% on Monday, closing at $309.26 as investors reacted positively to expansion plans and executive compensation news. The electric vehicle maker is pushing forward with robotaxi ambitions in one of America’s most challenging driving environments.
The company has posted job listings for “vehicle operators” in Brooklyn, New York. This represents a major test for Tesla’s autonomous driving technology in what many consider the country’s most chaotic traffic environment.
Brooklyn’s streets present unique challenges with delivery vans, electric bikes, and what industry observers call “general chaos.” The area has earned a reputation for unpredictable traffic patterns that challenge even experienced human drivers.
Tesla appears aware of these difficulties. The company is taking what it calls a “super paranoid” approach to safety, requiring human backup operators for the robotaxi service.
This cautious approach makes sense given previous incidents with Tesla’s autonomous systems. The job listings suggest the company wants trained operators ready to intervene when needed.
Board Approves Major Compensation Package
Tesla’s board approved a new compensation package for CEO Elon Musk worth approximately $29 billion. The “Interim Award” consists of 96 million shares that vest in two years if Musk remains in his current role.
This decision comes while legal battles continue over Musk’s previous $56 billion pay package from 2018. The Delaware Supreme Court is reviewing that compensation deal.
If Musk wins the court case, the new award could be nullified. Investors seem to view the compensation as necessary to keep Musk focused on Tesla’s operations.
The stock award reflects the board’s confidence in Musk’s leadership during a challenging period for the company. Tesla’s market capitalization sits just under $1 trillion.
China Sales Drop Creates Headwinds
Tesla faced setbacks in China where locally-manufactured vehicles saw declining sales. July sales dropped 8.4% compared to the same month in 2024.
Model 3 and Model Y sales reached 67,886 units in July. This figure also represents a 5.2% decline from June 2025 numbers.
The Chinese electric vehicle market has become oversaturated with numerous competitors. Tesla must compete for smaller market share as the overall pie remains roughly the same size.
Growing competition from local Chinese manufacturers has pressured Tesla’s position. The company previously relied on China as a key growth market.
These challenges help explain Tesla’s pivot toward robotics and autonomous driving services. The company is diversifying beyond traditional vehicle manufacturing.
Tesla shares remain down nearly 20% year-to-date despite Monday’s gains. The stock trades well below its 52-week high of $488.54.
Wall Street analysts maintain a Hold consensus rating on TSLA stock. The rating includes 14 Buy recommendations, 15 Hold ratings, and eight Sell recommendations.
The average price target of $310.84 suggests minimal upside potential from current levels. Analysts expect continued volatility as Tesla navigates multiple challenges.
After-hours trading pushed Tesla shares to $310.28 following Monday’s regular session close.
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