Tesla Robotaxi Revenue Is Likely Years Away, JPMorgan Warns

Tesla Inc. investors expecting the carmaker to build a business around robotaxis in short order are likely to be disappointed, JPMorgan Chase & Co. analysts wrote in a report.

“We expect Tesla to show a robotaxi concept on Aug. 8 and perhaps an accompanying app, and to reveal more about its expected business model,” JPMorgan’s Ryan Brinkman said in the note to clients Tuesday. “But we do not expect material revenue generation likely for years to come.”

This expectation is based in part on the analyst’s recent meeting with Tesla’s director of investor relations, Brinkman wrote. The IR executive suggested ...