Tesla CEO Elon Musk has unveiled the company’s highly anticipated robotaxi, the Cybercab, at Warner Bros Studios in Burbank, California. The futuristic vehicle, featuring two wing-like doors and no steering wheel or pedals, drove Musk to the event, which he called “We, Robot.” He emphasized the potential of fully self-driving cars to improve safety and generate income by being rented out for rides.
However, Tesla’s stock fell over 8% following the announcement, signaling investor doubts. In contrast, competitors like Uber and Lyft saw their stocks rise by up to 10%. Musk projected that the Cybercab would begin production before 2027 and cost under $30,000. Yet, analysts are skeptical, citing potential financial challenges in meeting that target.
During the event, Musk hinted at launching fully autonomous, unsupervised driving technology in Tesla’s Model 3 and Model Y in Texas and California next year, pending regulatory approval. Safety concerns remain, with some experts questioning whether Tesla’s reliance on cameras, rather than radar or Lidar, can ensure sufficient safety.
The Cybercab project has faced delays, having been initially slated for release in August. Meanwhile, competitors like Waymo and Uber are expanding their robotaxi operations. Despite this, Musk showcased additional futuristic prototypes, including the “Robovan,” designed to transport up to 20 passengers.
Though the event captured attention, doubts remain about Tesla’s ability to deliver on Musk’s ambitious vision for the future of transportation.