Tesla Inc. (NASDAQ:TSLA) is getting lapped in the Texas robotaxi race. The question is whether it matters.

TSLA stock is moving. See the chart and price action here. 

Texas Department of Motor Vehicles data as of June 16 puts Tesla’s statewide fleet at just 69 vehicles, according to research from Bank of America. 

Waymo leads with 620, AVRide has 317, Nuro and Zoox round out the field at 47 and 35.

Tesla is also trails its competitors in markets. The company is live in four cities, with five more listed as “preparations underway,” while Waymo operates in 11.

Tesla is still running safety drivers in San Francisco while testing driverless deployments in Texas.

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Analyst Weighs In

Bank of America analyst Alexander Perry covered the competitive landscape in a note Wednesday, and he thinks Tesla’s strategy is deliberate.

“Our analysis shows Tesla is pricing more than 20% below competitors as it continues to scale its robotaxi business,” Perry wrote.

BofA ran pricing across 10 ...