Tesla aims to launch a robotaxi service.

Axar.az reports that this information was provided by Deutsche Bank.

The electric vehicle maker still is shooting for a launch of its cheaper vehicle in the first half of next year and other models later in the year.Tesla plans to launch robotaxi service in California and Texas next year.Tesla believes it would be reasonable to assume some type of teleoperator would be needed at least initially for safety/redundancy purposes," according to the report.

Deutsche Bank also raised its price target for Tesla shares to $370 from $295. Tesla shares were trading down nearly 1% at $386.04 on Monday.