On October 12, 2024, Elon Musk showcased Tesla's latest autonomous vehicles, the Cybercab and Robovan, during a high-profile event at Warner Bros. studio lot. The Cybercab, a robotaxi, aims to revolutionize urban transport, while the Robovan is designed to accommodate 20 passengers and reduce transport costs.
Despite the glitzy reveal, Tesla's stock fell nearly 9% following the event, raising concerns about the company's position in the competitive autonomous vehicle market against rivals like Waymo and Cruise. Musk's prediction that the Cybercab would enter production by 2027 was met with skepticism, reflecting broader doubts about his ambitious timelines and the potential impact of the newly introduced Optimus robots.
Experts emphasize that trust is crucial for innovation, and Musk's controversial public persona may hinder consumer and investor confidence in Tesla's future products. The event highlighted the importance of making new technologies feel familiar to gain acceptance in the market.