On Tuesday, the company published SEC filings proposing the sale of securities under trading plans by members of the board of directors estimated to be worth nearly $200 million.

Catching up to Waymo won't be easy because it has partnered with Uber Technologies, which operates the world's largest ride-hailing network with 170 million monthly users. It could take Tesla years to achieve that level of scale, especially if it builds its own mobility network from scratch.

Shares of Tesla stock dropped significantly Thursday as former DOGE director Elon Musk appears to be embroiled in a dispute with President Trump.