Elon Musk Unveils Two-Door Robotaxi
Elon Musk unveils a two-door robotaxi and a larger self-driving vehicle at a high-profile event. Tesla shifts focus from automaker to robotics manufacturer with a vision for a self-driving taxi fleet. Investors express disappointment over the lack of specific timelines and business strategy details.
This marks a significant shift for Tesla, transitioning from a mass-market automaker to a pioneering robotics manufacturer. Musk arrived on stage in a futuristic "Cybercab," set to hit production by 2026 with an enticing price tag below $30,000. Operating costs are projected at a mere 20 cents per mile, with inductive charging eliminating the need for plugs.
The vehicles are powered by artificial intelligence and cameras, eschewing additional hardware used by competitors, a move that has raised eyebrows among investors and analysts for its technical and regulatory complexities.
"The autonomous future is here," Musk declared.
In addition to the robotaxi, Musk also introduced a larger self-driving vehicle named Robovan, capable of accommodating up to 20 passengers, alongside Tesla's Optimus humanoid robot.
Musk's grand vision involves establishing a fleet of self-driving Tesla taxis that can be summoned via an app. Tesla owners will have the opportunity to earn income by listing their vehicles as robotaxis on the platform.
The event, titled "We, Robot," held at the Warner Bros studio near Los Angeles, drew a crowd of investors, stock analysts, and Tesla enthusiasts. Musk's emphasis on Tesla as an AI robotics company rather than a traditional automaker was a central theme of the evening.
While attendees were impressed by the showcase, some investors expressed disappointment at the lack of concrete details regarding production timelines, regulatory approvals, and a robust business strategy to outpace competitors like Alphabet's Waymo.
Dennis Dick, an equity trader at Triple D Trading, remarked, "I'm a shareholder and pretty disappointed. I think the market wanted more definitive time lines. I don't think he said much about anything."
Musk, known for his ambitious timelines, acknowledged his tendency towards optimism. Despite previous setbacks, including missed deadlines, he remains committed to advancing Tesla's autonomous driving technology.
Tesla's foray into the robotaxi market comes at a critical juncture as the company faces challenges such as declining deliveries, intensified competition, and regulatory scrutiny. Musk's reliance on cameras and AI for Full Self-Driving (FSD) technology sets Tesla apart from rivals using costly lidar systems.
Looking ahead, Musk hinted at plans to launch fully autonomous, unsupervised FSD in Texas and California next year with the Model 3 and Model Y. However, details on whether the robotaxis will incorporate new technology or rely on FSD remain undisclosed.
Elon Musk unveils a two-door robotaxi and a larger self-driving vehicle at a high-profile event.
Tesla shifts focus from automaker to robotics manufacturer with a vision for a self-driving taxi fleet.
Investors express disappointment over the lack of specific timelines and business strategy details.
Source: REUTERS