Tesla to Unveil Long-Awaited Robotaxi
- by Newsweek
- Oct 10, 2024
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Tesla is set to unveil its long-anticipated robotaxi at a Hollywood studio Thursday evening, a moment seen as pivotal for the company as it aims to redefine urban transportation.
The event, titled "We, Robot," will feature the introduction of the "Cybercab," a vehicle that may forgo traditional controls such as a steering wheel and pedals.
Cybercabs will, in theory, allow their owners to make money carrying passengers when they don't need to use it.
Expectations surrounding the event are high.
Tesla has faced difficulties selling its aging lineup of electric vehicles and is using the robotaxi debut to signal a shift in focus.
The unveiling comes as Tesla's CEO, Elon Musk, attempts to recast the company's image from primarily an electric vehicle manufacturer to a leader in artificial intelligence and robotics.
Musk has a history of setting ambitious timelines for Tesla's autonomous technology, often falling short.
Tesla's Full Self-Driving software has faced multiple investigations by the National Highway Traffic Safety Administration (NHTSA), raising questions as to whether the technology is ever fully safe.
Low-angle view of the facade of Tesla Motors dealership with logo and sign in Pleasanton, California, July 23, 2018. This week's "Cybercab" unveiling comes as Tesla struggles to sell its current lineup of electric vehicles...
Low-angle view of the facade of Tesla Motors dealership with logo and sign in Pleasanton, California, July 23, 2018. This week's "Cybercab" unveiling comes as Tesla struggles to sell its current lineup of electric vehicles and aims to shift its focus to new technology.
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The introduction of the Cybercab marks another attempt by Tesla to bring a fleet of robotaxis to market, a goal Musk has been touting for over five years.
In 2019, Musk promised that a fully autonomous fleet would be operational by the end of 2020.
While some anticipate a significant technological breakthrough, others expect the event to appeal primarily to Tesla's most loyal supporters.
These predictions have so far fallen short, but some, including Wedbush analyst Dan Ives, remain optimistic.
Ives called the robotaxi debut a "new chapter of growth" for Tesla and anticipates the announcement will include updates on Full Self-Driving, artificial intelligence breakthroughs, and a phased rollout strategy for the robotaxi service.
Bullish on Tesla stock, he also expects the company to introduce a ride-sharing app and give a demonstration of its Optimus humanoid robot, slated for release in 2026.
The event could be significant for Democrat customers who have been unhappy with Musk's political endorsements.
Trump Media stock spiked 15 percent after the CEO appeared at the former President's rally in Butler, Pennsylvania—a must-win state for either candidate.
However, the same impact can't be said for Musk's ventures when he posts to his platform, X, in support of Trump.
In an aerial view, Tesla cars sit parked in a lot at the Tesla factory on April 20, 2022 in Fremont, California. Autonomous vehicles, like the new "Cybercab", must comply with strict safety standards, and...
In an aerial view, Tesla cars sit parked in a lot at the Tesla factory on April 20, 2022 in Fremont, California. Autonomous vehicles, like the new "Cybercab", must comply with strict safety standards, and Tesla’s Full Self-Driving software has faced multiple investigations by the National Highway Traffic Safety Administration (NHTSA).
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