November 28, 2024 6:12 AM | 2 min read See Also: Tesla Cybercab Spotted Testing In Giga Texas Facility Why It Matters: Tesla’s introduction of lease buyouts comes amid a series of developments in its autonomous vehicle strategy. In April, CEO Elon Musk hinted at a unique ownership model for Tesla’s robotaxi fleet, which he described as a blend of Airbnb and Uber, with the potential name “Cybercab” reported during a first-quarter earnings call. Later, in September, Musk asserted that traditional buses would become obsolete once Tesla’s robotaxis, equipped with full self-driving capabilities, were operational. He emphasized that these robotaxis would offer point-to-point transportation at costs comparable to bus tickets according to his statements on social media. In October, Tesla unveiled the two-seater Cybercab, a dedicated robotaxi product, at an event in Los Angeles. The vehicle, expected to be priced under $30,000, was showcased with its self-driving capabilities. Price Action: Tesla stock closed at $332.89 on Wednesday, down 1.6% for the day, but increased slightly by 0.5% in after-hours trading. Year to date, Tesla's stock has gained 34%, according to data from Benzinga Pro. Analysts remain divided on the Tesla stock's prospects, with the consensus rating being "Neutral." The highest price target is $400, while the consensus price target is 232.20, implying a 30% downside. Check out more of Benzinga's Future Of Mobility coverage by following this link. Read Next: