Investors criticised lack of detail about the ‘robotaxi’ showcased by Elon Musk

Analysts criticise lack of detail about the ‘robotaxi’ showcased by CEO Elon Musk

Tesla shares fell nearly 9% on Friday, wiping about $60bn (£45bn) from the company’s value, after the long-awaited unveiling of its so-called robotaxi failed to excite investors.

Shares in the electric carmaker tumbled to $217 at market close following an event in Hollywood, where the chief executive, Elon Musk, revealed a much-hyped driverless vehicle. The stock price is down roughly 12% year-to-date.

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However, analysts said the event was short on detail and also expressed disappointment over a lack of specifics about other Tesla projects. Musk has a history of making grand projections about upcoming products and failing to follow through in the timeframe he has set, or at all.

    • @Sterile_TechniqueEnglish
      4•37 minutes ago

      Even at face value, that’s still a massive red flag coming Musk. He gave us a concept of the cybertruck that actually looked pretty badass; then delivered a vehicle straight out the Playstation 1. Any concept he pitches can be assumed to be complete bullshit.

      • @[email protected]B
        2•13 minutes ago

        That thing looks AI generated. Better than what we got but still ridiculous. I mean, it’s huge but still somehow doesn’t really seem to have much space for passengers or cargo at the same time

        Also, why is the cabin aerodynamic while the hood is not? The whole thing is nonsensical

        • @[email protected]
          0•12 minutes ago

          the thing we got is unique, that thing looks generic and car shaped as opposed to boxy and finger crushing