Elon Musk, CEO of SpaceX and Tesla and owner of
David Swanson | Reuters
with Tesla’s With the hotly anticipated robotaxi event just hours away, investors will soon get a glimpse at what CEO Elon Musk is calling CyberCab.
After a decade of unfulfilled promises to deliver self-driving cars that could safely travel reasonable distances without a human behind the wheel, it’s unclear what Tesla can do technologically and when its robotaxi will actually hit the market. Skepticism is growing.
Robotaxi Day, or “We, Robot” event, is scheduled to begin at 7 PM Pacific Time at Warner Bros. Studios in Burbank, California and will be streamed live via X.
CFRA analyst Garrett Nelson warned in an Oct. 4 preview that the closed-course conditions at movie studio lots could make Tesla robotaxis appear more advanced than they would in regular traffic or on public roads. CFRA has a Hold rating on the stock.
Tesla shares fell about 1% to $238.77 on Thursday. It is now down nearly 4% this year and more than 40% below its 2021 record.
The event comes just a week after Tesla reported that it delivered 462,890 vehicles in the third quarter, bringing that number to 1.35 million units so far this year. Last year alone, Tesla reported delivering 1.81 million vehicles.
Bullish analysts including Wedbush, ARK and RBC Capital Markets are optimistic about the company’s ability to deliver long-delayed cutting-edge technology products, including self-driving cars, humanoid robotics and other AI products, while continuing to grow revenue over the long term. expressed a positive outlook. Leading products and services.
Gene Munster of Deepwater Asset Management said on CNBC’s “Fast Money” on Wednesday that he plans to attend the event and expects to test the robotaxi.
Munster, a longtime Tesla supporter, said he thinks the company will launch robotaxi in some cities by the end of 2025. He also expects Tesla to announce plans to produce an affordable EV, perhaps a scaled-down version of the Model 3. , and electric vans.
He expects the stock to fall after the event, but said it could “hit new highs” over the next two years if deliveries begin to accelerate.
Tesla was once considered a pioneer in the development of self-driving cars, but has never offered or demonstrated robotaxi technology. The company is now considered a latecomer.
alphabet Currently, America’s Waymo and a number of Chinese companies both operate commercial robotaxi services.
Morgan Stanley analysts wrote in a report Wednesday that if Tesla were able to launch a “Level 4” robotaxi that could drive without a driver using its current “hardware and software suite,” the costs would be: You have a per-mile advantage over your peers.
In addition to missing deadlines, Tesla has had safety issues with its driver assistance systems, which are currently sold in standard Autopilot and premium Full Self-Driving (Supervised) options.
Missy Cummings, a professor at George Mason University and director of the Mason Center for Autonomous Robotics, said Tesla leaders should be able to say how they are solving a problem known as “ghost braking,” which refers to vehicles equipped with ADAS. Even while driving at highway speeds with no visible obstacles around, you may find yourself hitting the brakes unexpectedly.
Tesla’s phantom brake problem ongoing investigation By the National Highway Traffic Safety Administration (NHTSA). “If you can’t solve the phantom braking problem in a Level 2 vehicle, you can’t solve it in a Level 4 or 5 vehicle,” Cummings, who previously served as the regulator’s chief safety adviser, told CNBC. Level 2 vehicles include driver assistance systems.
According to the data Tracked by NHTSA Since 2021, there have been 1,399 crashes in which Tesla’s driver assistance systems were activated within 30 seconds of the collision, with 31 of those crashes reportedly resulting in fatalities.
Sam Abuelsamid, an analyst at Guidehouse Insights, said Musk or other Tesla executives should be able to say exactly how the car plans to operate in a variety of weather conditions, including fog, rain, snow and lights, or in dark tunnels.
He also wants Tesla executives to say whether they will take full responsibility for the operation of these vehicles, which he calls “table stakes for true robotaxi without human control.”
Finally, Abuelsamid wants to know whether Tesla plans to own and operate robotaxi, or lease or sell them to consumers and fleet operators.
“Many companies have made progress in terms of autonomous driving technology,” Abuelsamid said. “But we have failed to find a profitable business model. Tesla has many challenges to overcome and we want to know how all the pieces fall into place.”
see: It will be another five years before we see a car like Waymo from Tesla.
