Steve Westly, The Westly Group founder, joins 'Money Movers' to discuss Tesla as it prepares to launch its Robotaxi in Austin.

Austin

Tesla is set to introduce its robotaxi service in Austin as the company faces declining sales and growing competition from other electric vehicle manufacturers such as BYD and GM. Industry expert Steve Westly notes that Tesla is positioning itself as a technology company rather than just a car manufacturer, putting pressure on the firm to demonstrate significant innovation.

Concerns remain regarding the safety of Tesla's autonomous vehicles, as the company reportedly lags behind competitors like Waymo in terms of miles driven between critical interventions. While other companies have secured regulatory approval and expanded operations to multiple cities, Tesla has yet to receive such approval and is considered to be behind schedule in Austin. The upcoming launch is seen as a pivotal moment for the company.

Tesla robotaxi to launch in Austin

Great to have you back. I'm wondering, Steve, are we going to are we going to walk into the office on Monday morning, just sort of looking at some quiet, you know, efficient video of these cars? And what happens from there? Well, it could be a nothing burger. But look, this is a huge event for Tesla. Their sales are down 11% year over year in Q1. It could be worse than that in Q2. 2025 looks like the first year that Tesla's year over year sales are going to decrease. And the problem is BYD's sales are exploding. 38% growth. GM's EV sales a whopping 98%. Competition's coming. Now, Tesla said don't buy our stock if you're interested in a car company. We are a technology company. So that puts real pressure on Tesla to show they've got something special. I think there's going to be a lot of pressure on them on Sunday. We'll see. Do you have any concerns about safety? We spoke with with the guy from the Dawn Project, you know, who does who's been running tests and has been flagging concerns about Tesla's self-driving instincts and security and whether it's indeed safer than having a person in the car. Are those concerns valid in your view? I think they are. Look, there's a statistic that everybody's going to know in the near future, and that is how many miles can a technology, a car company go, an autonomous vehicle company without having a critical intervention. Right now, Waymo goes 10,000 miles between critical interventions. They claim this is 70% safer than a human driver. Tesla is at about 400 to 500. So they are way behind. As you pointed out, Tesla's already operating in four cities. They've got another five in the pipeline, including New York City, which really shows they can go anywhere. They're providing over 250,000 rides a week, a million a month. Tesla doesn't have regulatory approval anywhere yet. They're two years behind in Austin. So they really need to put on a stunning show on Tuesday. And by all accounts, I'm not sure they're ready for that. But all eyes are going to be on Austin.

Ukrainian President Volodymyr Zelenskyy said Kyiv will do "anything" to advance EU accession talks. Zelenskyy spoke alongside Danish Prime Minister Mette Frederiksen, President of the European Council António Costa and President of the European Commission Ursula von der Leyen.

Kyiv

Ukraine Invasion

Ukraine will do 'anything' to advance EU accession talks: Zelenskyy

President Donald Trump said Washington will start sending letters to countries on Friday specifying what tariff rates they will face on imports to the United States, a clear shift from earlier pledges to strike scores of individual deals.

Washington

Global Tariffs

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Indonesian rescuers on Thursday (July 3) temporarily halted a search for 30 people still missing after a ferry carrying 65 people sank near the island of Bali with the loss of six lives, the national search and rescue agency said.

Gilimanuk

Indonesia suspends search for 30 missing after ferry sinks near Bali

After marathon debate sessions in the Senate and House, President Donald Trump’s budget bill passed in the House. Republicans secured the biggest win of Trump’s presidency.

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Florida says the first group of migrant detainees have arrived at the new immigration detention center known as "Alligator Alcatraz." CBS News correspondent Shanelle Kaul has more.

Ochopee

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U.S. President Donald Trump said Thursday (July 3) that he spoke with Russian President Vladimir Putin and that he plans to hold a call with Ukrainian President Volodymyr Zelenskyy. CBS News White House reporter Willie James Inman has more.

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CNN’s Priscilla Alvarez reports on a lawsuit from lawyers for Kilmar Abrego Garcia alleging he suffered “torture and mistreatment” after he was wrongfully deported and held in El Salvador’s notorious mega prison.

Tecoluca

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Democratic leader Hakeem Jeffries spoke for hours on the House floor about potential impacts of President Trump's "big, beautiful bill" that Republicans are looking to pass before July 4. Following debate, the House is set for a final vote on the massive budget bill.

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CBS News political contributor Caroline Polisi joins "CBS Mornings" to break down the jury's verdict in Sean "Diddy" Combs' federal trial and the judge's decision to deny bail for the music mogul ahead of his sentencing.

Manhattan

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Liverpool soccer player Diogo Jota has died aged 28, just weeks after marrying his childhood sweetheart. The footballer passed away in a car crash in northern Spain.

Madrid

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The Pentagon said that U.S. strikes 10 days ago had degraded Iran's nuclear program by up to two years, suggesting the U.S. military operation likely achieved its goals despite a far more cautious initial assessment that leaked to the public.

Tehran

Iran Strikes

Iran nuclear program degraded by up to two years: Pentagon

Days before his 90th birthday, the Dalai Lama announced the Gaden Phodrang Trust, a non-profit he founded, will have the sole authority to recognize his future reincarnation, but China insists it will choose the successor of the Tibetan spiritual leader.

Lhasa

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The U.S. Congress inched towards approving President Donald Trump’s Big Beautiful Bill, despite attempts by Democrats to stop it. The bill is Trump’s signature legislation which includes massive spending increases on the military and immigration enforcement while slashing social programs.

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Sean (Diddy) Combs was found guilty on prostitution-related charges, but was acquitted on more serious charges of racketeering and sex trafficking giving him a maximum sentence of 20 years. But the courtroom victory was subdued following a judge’s ruling to deny him bail.

New York

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President Trump says Israel has agreed to a 60-day ceasefire in Gaza, but it remains unclear if Hamas will accept the terms. CBS News senior foreign correspondent Debora Patta has more.

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Bryan Kohberger changed his plea to guilty Wednesday for the 2022 murders of four University of Idaho students. CBS News national correspondent Carter Evans has more on the case.

Boise

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The Wisconsin Supreme Court struck down a state abortion law that was adopted in 1849 in a 4-3 landmark decision. CBS News' Shanelle Kaul reports.

Madison

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Macron and Putin held regular discussions around the start of Russia's invasion of Ukraine, with Macron visiting Putin in Russia in February 2022, but dialogue eventually stalled.

Paris

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President Trump toured “Alligator Alcatraz,” a migrant detention center he teamed up with Ron DeSantis to build in the Everglades.

Everglades

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Jurors in Sean “Diddy” Combs’ federal criminal trial said they have reached a verdict on four of the five counts, but they cannot reach a verdict on Count 1, which is racketeering conspiracy. The judge has instructed the jury to keep deliberating. Deliberations will resume Wednesday (July 2).

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The U.S. Senate passed the Republicans' reconciliation bill on Tuesday (July 1) after more than 24 hours of marathon voting on amendments. Vice President JD Vance cast the tie-breaking vote.

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The new order does not rescind existing sanctions on ousted longtime President Bashar al-Assad, his top aides, officials and family members who are accused of having committed war crimes and human rights violations against Syrian civilians.

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Former criminology graduate student Bryan Kohberger has agreed to plead guilty to killing four Idaho college students in 2022, a move that would spare him the death penalty under a deal with prosecutors, ABC News reported on Monday (June 30).

Moscow

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Thailand's Constitutional Court on Tuesday suspended Prime Minister Paetongtarn Shinawatra from duty pending a case seeking her dismissal, adding to mounting pressure on a government fighting for survival on multiple fronts.

Bangkok

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Israeli strikes killed at least 60 people across Gaza on June 30 in some of the heaviest attacks in weeks as Israeli officials were due in Washington for a new ceasefire push by U.S. President Donald Trump.

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The jury has informed the judge in Sean "Diddy" Combs' sex trafficking trial that they have concerns about one juror's ability to follow the court's instructions. Deliberations in the trial are underway.

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Jury deliberations are set to begin in the Sean "Diddy" Combs sex trafficking and racketeering trial. CBS News' Katrina Kaufman has the latest updates.