Jeff Sica, founder of Circle Squared Alternative Investments, analyzes Tesla and explains how rising interest rates will affect the economy in Varney & Company.
Tesla shares fell on Friday following the company's robotaxi event, which left investors less than impressed.
CEO Elon Musk unveiled two versions of Tesla's Robotaxi, the CyberCab sedan and the futuristic-looking RoboVan, to the world Thursday night at an event dubbed “We, Robot.” Introduced to.
Tesla aims to begin production of the CyberCab by 2027, Musk said, noting that “the trend is there.”[s] You have to be a little optimistic about the time frame. ” The vehicle, which is expected to cost less than $30,000, has no steering wheel or pedals.
Musk announces robot taxis, the future of fully autonomous driving without supervision
Musk has said robotaxis will be available for sale by 2026. (Tesla/Reuters/Reuters)
Another Tesla robotaxi, the “Robovan,” is a van designed to carry more passengers.
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“It can carry up to 20 people and also transport goods,” Musk said. “It can be configured to transport goods within cities or transport up to 20 people at a time. Robovan is a solution to the problem of high density.”
Tesla's Robovan was unveiled during an event on Thursday. (Tesla/Reuters/Reuters)
Tesla said in the X post that it could be adapted for “commercial or personal uses such as school buses, RVs, and cargo.”
Wedbush analysts said: “It's a very impressive design up close and forms the basis of one of Tesla's future growth drivers. The CyberCab will drive overall Tesla profits and margins for years to come. I think it's a big opportunity.” said in a memo.
During the event, Musk also told attendees that Tesla “expects to launch fully autonomous, unsupervised FSD.” [full-sell-driving] Next year in Texas and California” will be held in Model 3 and Y vehicles.
Investors were looking for details about Tesla's robotaxi plans and had high expectations for the robotaxi event.
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In July, the company postponed the event from its original date of early August. Musk said in a mid-July post on .
“His vision is great, but someone has to make it happen,” Ross Gerber, Tesla shareholder and CEO of Gerber Kawasaki Wealth and Investment Management, told Reuters. ” he said. “For now, over the next 24 months, Tesla has to sell EVs. Why aren't we focused on that?”
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 219.68 | -19.09 |
-8.00% |
Musk has been dreaming up “cyber taxis” and autonomous ride-hailing systems for years.
Elon Musk attended the 10th Breakthrough Awards Ceremony held at the Academy Museum of Motion Pictures in Los Angeles, California on April 13, 2024. (Photo by ETIENNE LAURENT/AFP via Getty Images/Getty Images)
Tesla's Optimus robot was also spotlighted in “We, Robot.”
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Earlier this month, the company reported that production of various models totaled nearly 469,800 units in the third quarter. Meanwhile, the number of vehicles delivered was approximately 462,900.
