Investors criticised lack of detail about the ‘robotaxi’ showcased by Elon Musk

Analysts criticise lack of detail about the ‘robotaxi’ showcased by CEO Elon Musk

Tesla shares fell nearly 9% on Friday, wiping about $60bn (£45bn) from the company’s value, after the long-awaited unveiling of its so-called robotaxi failed to excite investors.

Shares in the electric carmaker tumbled to $217 at market close following an event in Hollywood, where the chief executive, Elon Musk, revealed a much-hyped driverless vehicle. The stock price is down roughly 12% year-to-date.

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However, analysts said the event was short on detail and also expressed disappointment over a lack of specifics about other Tesla projects. Musk has a history of making grand projections about upcoming products and failing to follow through in the timeframe he has set, or at all.

  • geneva_convenience
    14·
    4 hours ago

    Musk said the company would start building the fully autonomous “Cybercab” by 2026 at a price of less than $30,000, and showed off a van he claimed was capable of transporting 20 people around town autonomously – which he said would reshape cities by turning car parks into parks.

    $30,000 for a fully autonomous bus?

    • ayyy@sh.itjust.works
      1·
      7 minutes ago

      He’s learned that if you put an ® next to your name there are literally zero consequences for blatantly lying.

    • Psythik@lemmy.world
      3·
      2 hours ago

      Why is he even bothering when we already have Waymo? It already has full-self driving, and it works wonderfully. I use it to get rides to work when I’m too tired to drive. Just hop in, take a nap, and wake up at your destination. I trust it way more than any Uber/Lyft driver.