Elon Musk disclosed on Friday that Tesla will unveil a robotaxi this summer, as the widespread use of self-driving vehicles is slowed by safety concerns. The richest executive of the electric vehicle manufacturer did not reveal any details, only claiming in a post on X the "Tesla Robotaxi unveil" would take place on August 8.

Highlights: 

• Elon Musk announced Tesla's robotaxi unveiling in August amidst safety concerns about self-driving vehicle adoption.
• Despite Musk's advocacy, Tesla's self-driving efforts face regulatory and safety challenges.
• This announcement follows Tesla's pivot from a mass-market electric car and lower first-quarter sales, while traditional manufacturers like Toyota see increased sales.

Tesla shares climbed more than 3% in after-market dealings following the article, after beginning the day down.

Musk has long talked about Tesla's efforts on self-driving electric cars.

Tesla's FSD (Full Self-Driving) models "will be exceptional to such a degree that it will seem odd in the years that follow that humans drove cars, even while tired and drunk!" he said in a March essay on X.

Musk has also suggested that owners of Tesla vehicles with FSD will be allowed to have their automobiles serve as robotaxis, rather than remaining lazily parked.

Despite its potential, the implementation of self-driving vehicles in the United States has been timid and rough thus far, with regulators and the public raising safety concerns.

San Francisco has served as a testing ground for technologies.

Waymo robotaxis in the city have been targeted by anti-autonomous vehicle vandals, while GM-owned Cruise ceased its robotaxi service indefinitely at the end of October following several mishaps that prompted a crackdown from California regulators.

Tesla's "autopilot" feature is additionally under fire, with charges that its marketing overstated the system's actual capabilities.

Tesla's robotaxi announcement comes after Reuters reported that the company had abandoned Musk's long-promised intention to create an electric car model priced under $25,000 to stimulate mass market acceptance. Musk responded with a post disputing the report.

Tesla announced dramatically lower first-quarter auto sales this week, citing an unimpressive demand picture for electric vehicles, while traditional manufacturers such as Toyota benefited from reduced US inventories to boost sales.

Musk's automaker announced that global deliveries decreased 8.5 percent in the quarter, owing in part to a sluggish sales market in China, where it confronts stiff competition from domestic electric vehicle manufacturers.