As per reports, Elon Musk-owned Tesla is not ready to reveal its robotaxi design in August and is instead pushing the event to October.

The company needs more time to build the prototypes. Following the news, Tesla's shares fell more than 6 percent.

In April, Musk made the first mention of the robotaxi event. The same day, Reuters revealed that Tesla had scrapped plans to release a new car on a later platform that would have cost about $25,000.

Ever since Musk penned a revised "master plan" for the company, at least eight years have passed and the idea of launching an autonomous taxi service has been considered at Tesla.

Musk has shifted his concentration to this project in recent months rather than continuing to work on creating an electric vehicle that is more inexpensive than Tesla's Model 3 sedan.

Although self-driving car technology has great potential, adoption in the US has been slow and uneven due to public and regulatory concerns about safety. Tesla's "autopilot" function has also come under fire; claims have been made that the feature's marketing overstated its actual capabilities.

This technology has undergone testing in San Francisco. Vandals hostile to autonomous vehicles in the city have targeted Waymo robotaxis from Google.

GM-owned Cruise suspended its robotaxi service indefinitely in late October after several incidents that led California regulators to impose more stringent control.