Tesla unveils Cybercab at Warner Bros Studios in Burbank

Last week, Tesla Inc unveiled its highly anticipated robotaxi, the Cybercab, at Warner Bros Studios in Burbank, California. The event aimed to showcase Tesla's future in autonomous driving but fell short of expectations, leading to a significant drop in CEO Elon Musk's net worth by $15 billion. Production of the Cybercab is scheduled to begin before 2027, with a target price of under $30,000, similar to the Model 3 and Model Y. However, concerns arise regarding the feasibility of this price point and the lack of existing infrastructure for the inductive charging technology the vehicle will utilize. Despite Musk's optimism, skepticism surrounds the timeline for production, especially given his history of missed deadlines. Analysts, including Paul Miller from Research Forrester, express doubts about Tesla's ability to deliver a new vehicle at the proposed price within the specified timeframe, suggesting that the company may incur losses on each unit sold. The event also featured humanoid robots serving drinks, but overall, the showcase did not generate the excitement Tesla had hoped for. The Cybercab will face stiff competition from established players in the autonomous vehicle market, including Waymo, General Motors' Cruise, and Amazon's Zoox. The lack of concrete figures and a clear business model for automated driving technology has left investors and the market feeling disappointed. As Tesla attempts to navigate these challenges, the future of the Cybercab remains uncertain, with many questioning whether the company can maintain its leadership in the evolving landscape of autonomous vehicles.