Tesla’s new two-seater Cybercab robotaxi has left investors and analysts puzzled after its unveiling by CEO Elon Musk. Known for his bold ideas, Musk showcased this sleek prototype at a much-anticipated event near Los Angeles, setting a planned production date for 2026 and pricing each unit under $30,000.
The announcement, however, lacked details on how this smaller vehicle would cater to families or mainstream users, affecting investor confidence and causing a 9% decline in Tesla’s stock. Many questioned whether the Cybercab would remain a niche product due to its limited seating.
Musk’s vision of reducing operation costs to 20 cents per mile over time faces challenges, as Tesla must compete with established robotaxi services like Waymo. Experts argue that a larger model might be necessary for Tesla to capture a broader market share effectively.
(With inputs from agencies.)