On June 13, CNN reported that Elon Musk, the CEO of Tesla, officially announced the launch of Tesla's autonomous taxi service in Austin, Texas, scheduled for June 22. Amid declining sales and profits, Musk harbors high hopes that this service will infuse much-needed liquidity into the company. The initial pilot program will deploy driverless Model Y vehicles, which will initially operate within designated areas but envisages rapid expansion in the future. Austin was chosen as the inaugural pilot city due to its permissive regulatory framework and relatively low population density.