Analysts at Barclays believe Texas could be central to the future of Tesla's (NASDAQ:TSLA) robotaxi strategy.
The bank said Texas looks like a potential location for a fast-tracked robotaxi launch, given the state's favorable regulatory environment.
Over the coming months, Barclays expects more details to emerge on Tesla's robotaxi strategy, culminating in the electric vehicle giant unveiling the robotaxi, which is scheduled for August 8.
"One particular scenario we could see emerging is the launch of a driverless Robotaxi release in Texas, which would go alongside Tesla's broader national (and arguably international) push for FSD," wrote the bank.
Barclays believes Musk is "increasingly levering himself to Texas, with the firm noting SpaceX's efforts in the state, alongside the fact that Elon Musk also moved Tesla's headquarters to Austin, and built one of the world's largest factories there in Giga, Texas.
"Tesla's recent proxy is currently proposing moving the company's incorporation to Texas from Delaware," adds Barclays. "Yet alongside Elon Musk’s appreciation for the business-friendly climate offered by TX, we believe that the shift to TX also reflects an appreciation of the state's relatively laissez-faire attitudes around regulation – naturally appealing, particularly for a company such as Tesla that prides itself on being a disruptor."