Tesla plans to launch its robotaxi business and pilot production of its humanoid robot in 2025, the company said Wednesday. Why it matters: CEO Elon Musk has described self-driving car services as critical to the company's future.

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.

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.

A quick look at Elon Musk’s social media pages makes it clear that he’s more focused on his work in Washington D.C. than anything involving electric vehicles (EVs) or rockets. 💰💸 Don’t miss the move: SIGN UP for TheStreet’s FREE Daily newsletter 💰💸 Even as Tesla TSLA prepares to report its Q4 earnings and full-year guidance after market close Wednesday,

Tesla reported disappointing fourth-quarter earnings for 2024, with revenue of $25.7billion (£20.6billion) falling short of Wall Street analysts' predictions of $27.2billion (£21.8billion). The electric vehicle maker's shares dropped approximately four per cent in after-hours trading following the announcement on Wednesday.

The Tesla CEO's net worth fell by around $4 billion yesterday, however, according to the Bloomberg Billionaire Index.