The presentation of Tesla’s robotaxi, Cybercab, did not please the markets, which this Friday punished the shares of the electric vehicle manufacturer with a fall of 8.78% in their value due to the lack of details on the plans production and marketing.
Tesla Stock They closed in New York $20.97 below the opening value. among analysts’ criticism of the presentation made Thursday evening by the company’s executive director, Elon Musk.
Musk, who fueled expectations for months by describing the Cybercab as a revolutionary vehicle destined to forever transform the world of transportation and which would catapult Tesla’s stock market valuation, did not convince with an event that he himself described as a “party”.
Some analysts, such as Colin Langan of Wells Fargo, criticized this Friday the fact that the demonstration organized by Tesla at the Warner Bros. studios. of Los Angeles with 50 autonomous vehicles, including several Cybercab units, It was little more than a setup.
Others, like Bernstein analyst Toni Sacconaghi, described the presentation as “disappointing” and empty of details.
On Thursday, Musk simply noted that the Cybercab will have a price between 20,000 and 30,000 dollars, that it will enter production “before 2027” and that it will recharge its batteries by induction rather than with a socket.
But the businessman did not give details on how Tesla will prepare to multiply its production with the strong demand he estimates the Cybercab will have when has difficulty making vehicles like the Cybertruck.
He also did not indicate how will circumvent the regulations and technical aspects for driverless vehicles, without steering wheels or pedals to circulate on the streets of American cities.
“Is that all? Disappointing lack of details”exclaimed Adam Jones, an analyst at Morgan Stanley and known as a strong Tesla supporter.
Given this lack of detail, the industry was quick to point out that Musk has long been wrong in his predictions, both on the prices of Tesla products and their launch dates. Musk also tends to exaggerate the technical capabilities of his cars.
Finally, the total absence during the presentation of any reference to the next generation of low-cost vehicles from Tesla, which some consider to be the main objective of the company, nor did it help dispel the doubts on Musk’s projects.
And of course, the spectacle during the Cybercab presentation of the Optimus robots, which Musk called “the most important product in history” of humanity, dancing and serving drinks instead of demonstrating their true industrial capabilities, was the final straw for many. EFECOM
