Tesla Stock Falls. Musk Faces Questions About Robo-Taxi Expansion.

Tesla holds a license to test self-driving cars with a safety driver in California. (Dreamstime)

Tesla stock was falling early Friday, as the market awaits more news on its robo-taxi services.

The electric-vehicle maker’s shares were down 0.4% at $306.96 in early trading, while the benchmark S&P 500 was down 1.2%.

Tesla CEO Elon Musk said Thursday the company had started offering ride-hailing in the San Francisco Bay Area but didn’t call it a robo-taxi service. The company holds a license to test self-driving cars with a safety driver in California.

The EV maker launched its robo-taxi service on June 22 in Austin, Texas. The launch was small with a selected group of riders and with a safety monitor in the front passenger seat.

Tesla didn’t immediately respond to a request for comment early on Friday. The Bay Area is home to ride-hailing incumbents Uber Technologies and Lyft .

Write to Adam Clark at adam.clark@barrons.com