Tesla shares rose about 3% before the bell on Thursday as plans to roll out cheaper electric vehicles and paid autonomous car services by the automaker that missed Wall expectations for fourth quarter lifted investor sentiment.

While Tesla focuses on its robotaxi launch, Rivian is looking to take hands off the wheel and eyes off the road while enabling drivers to chat with the car.

While the initial testing will use Tesla's own fleet of cars, regular customers may be able to add their cars to the ride-hailing fleet next year, Musk says.

Tesla shares gained 3% on Thursday after CEO Elon Musk vowed to launch long-awaited cheaper models in the first half of 2025 and start testing an autonomous ride-hailing service in June.The promises helped investors overlook a weak fourth quarter that saw margin shrink and revenue drop below expectations as a result of slow model upgrades and rising competition.

It’s been three months since Tesla unveiled details of its much-anticipated robotaxi for the first time, and the electric automaker is already barreling forward with plans to launch a paid service. In a Tesla earnings call Wednesday evening,

Elon Musk said Tesla will begin launching unsupervised self-driving models in Austin, Texas by June and several other U.S. cities by the end of 2025.

It’s hard to fault a CEO who grows a company beyond $1 trillion in value. Elon Musk managed the feat by upending the automotive market with Tesla’s electric vehicles and extended its lead with broader battery power.