Tesla's (TSLA, Financial) stock took a significant hit, dropping more than 10% to $214.4, marking the largest decline since August 5. This was prompted by a disappointing Robotaxi launch event.
CEO Elon Musk introduced the CyberCab, a driverless taxi, and a driverless Model Y. The CyberCab, notably devoid of both a steering wheel and pedals, is expected to cost under $30,000 and is slated for production in 2026.
Industry insiders question the price point, suggesting $30,000 for a fully visual electric vehicle is "quite expensive." Analyst Ming-Chi Kuo from TF International Securities remarked that the projected timing for mass production aligns with previous surveys.
Key areas of interest for Tesla in the upcoming months include the next earnings call, the results of the U.S. presidential election, and whether Tesla can offer fully autonomous driving (FSD) without supervision in California and Texas by 2025.
