Elon Musk's robotaxis may soon hit local streets as his company seeks to expand its driverless ridesharing service and catch up with rival Waymo.

Tesla Inc. is expanding its robotaxi service area in Austin, CEO Elon Musk says. In a Wednesday night response to a user's post on X praising the Austin-based electric automaker's autonomous ride-hailing service, Musk said robotaxis will be offered in a larger service area this weekend.

Trading at a forward price-to-earnings (P/E) ratio of more than 150 times 2025 analyst estimates, Tesla's valuation still reflects a future where autonomous driving becomes mainstream, and where Tesla, not Waymo or another company, is the dominant player. That's a huge bet, and right now, it wouldn't be the robotaxi company I'd wager on.