Elon Musk unveiled the autonomous vehicle “Robotaxi” tonight.

Elon Musk presented yesterday evening (US time) the Cybercab, the autonomous vehicle thatTesla Has been developing for years, at the “We, Robot” event, held at Warner Bros. Studios in California. The event started almost an hour late, when Musk arrived on stage in the Cybercab vehicle.

Described as a smaller, refined version of the Cybertruck, the CyberCab is a two-seat vehicle without a steering wheel or pedals, with wing doors. Instead of presenting a single prototype, Tesla surprised with a line of 20 autonomous vehicles.

You can watch the full event below:

 

The future will be streamed live

10/10, 7pm PT https://t.co/YJEjZIYoTA

– Tesla (@Tesla) October 9, 2024

Musk addressed the audience during the event, stating that “you can buy one of these” and adding that the price of the vehicle is expected to be less than $30,000. According to him, the average operating cost of the cybercab is expected to be about $0.20 per mile, which he claims will make it a “personalized mass transportation solution.”

Humanoid robots alongside regulatory challenges

In addition to the Cybercab, Tesla unveiled the Robovan – a larger autonomous vehicle designed to transport up to 20 people or transport cargo. Both vehicles are designed to use inductive charging, which enables wireless charging.

Musk also referred to the company’s near future, saying that “we expect to operate an autonomous driving system without supervision (FSD) in Model 3 and Model Y cars in Texas and California, as early as next year.” He indicated that he expects the Cybercube to be in production by 2026 or before 2027, while acknowledging that he tends to be optimistic about timelines.

The event also included a demonstration of Optimus-type humanoid robots that walked among the guests, danced and even mixed drinks. Musk presented a vision for the future in which these robots will be used as personal assistants, at a price of about 20 thousand to 30 thousand dollars.

However, it is important to note that Tesla still faces regulatory and safety challenges on the way to realizing Musk’s autonomous vision. The company will have to prove the safety and reliability of the technology in real-world conditions, as well as obtain required regulatory approvals.

At the same time, in the days leading up to the disclosure event, Tesla faced another challenge, in the form of the departure of several senior managers. These departures added pressure on the company and Musk on the eve of the decisive event. The timing of the departures, in close proximity to the unveiling of the Robotaxis, also raised questions among investors about the stability of Tesla’s senior management and its ability to realize the company’s vision, according to several media outlets.

According to the website Investor’s Business Daily, Tesla stock reacted with volatility after the event. According to the report, during Musk’s presentation, the stock rose more than 4%, but as soon as the event ended, it reversed to a decline. In the early hours of Friday, the stock traded down less than 2%; This is, among other things, on the Robinhood app, outside of normal trading hours.

According to the site, analysts expect significant volatility in Tesla shares today (Friday), after investors digest the news from the Robotaxis event. On Thursday, before the event, Tesla shares fell by almost 1% to $238.77, after falling to a daily low of $232.34.