Los Angeles, October 12: Tesla's recent Robotaxi event showcased its futuristic Optimus humanoid robot and autonomous vehicles, including the Cybercab and Robovan. Despite high expectations, the event failed to impress investors, leading to an 8% drop in Tesla's shares.
Elon Musk unveiled the Cybercab, a two-seater autonomous vehicle without a steering wheel, but provided few details regarding its production timeline or manufacturing location. He stated that the Cybercab could be priced under $30,000, significantly lower than Waymo's vehicles, which cost around $250,000.
Analysts criticized the event for lacking short-term opportunities and specific updates on Tesla's Full Self-Driving (FSD) technology. Musk aims to have FSD operational in Texas and California next year, but the current version still requires human oversight.
While Musk envisions Tesla's valuation soaring from $700 billion to nearly $5 trillion, analysts from Barclays and Morgan Stanley expressed disappointment over the lack of substantive details during the presentation. They anticipate continued pressure on Tesla's stock following the event.