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.
It won’t be $30k, it won’t be full self driving, it won’t be ready for production by by 2027, it won’t replace all cars on the road by 2075.
It’s shocking that people aren’t calling him out on the fact that he also promised every Tesla on the road today would be capable of becoming a robotaxi, which was just an outrageous lie at the time and evidently they are no longer working towards making that plan a reality anymore if they’re designing dedicated autonomous vehicles. Letting him pitch a new robotaxi idea feels like letting him get away not having to face any consequences for his blatant bullshit.
No Tesla will, correct.
These cars will be available, just not where governments stand on the scale for industries that refuse to modernize or make vehicles that a lot of people actually want instead of another oversized SUV or truck with a grill taller than a tank.