Week 41/24 Highlights: Reactions to Tesla's Robotaxi, Environmental impact, China sales figures, and DHL's semi-truck testing
In a grand spectacle held on a Warner Brothers film set in Los Angeles, Tesla unveiled its latest innovations, including the much-anticipated Cybercab and the Robovan.
Elon Musk, Tesla's CEO, presented the Cybercab, a robotaxi designed for two passengers, with two upward-opening doors that resemble a combination of the Model Y at the front and the Cybertruck at the back. However, the Cybercab is expected to go into production before 2027 without a steering wheel or pedals, marking a significant leap in autonomous technology.
Tesla also provided 50 fully autonomous vehicles for test rides, with 21 Cybercabs and the rest Model Ys. Despite the excitement, it's important to note that Tesla has not yet achieved any approval for tests with actual autonomy, unlike its competitors.
The event also featured replica city districts, drone images, good food, and technology displays, creating an immersive experience for the attendees.
However, the stock market didn't seem as enthused. Analysts were largely in agreement in their negative assessment of the event's impact on Tesla's stock, with Tesla's stock dropping around 9% in US trading on Friday morning following the event. Morgan Stanley set a price target of $310 for Tesla's stock.
Analysts also expressed disappointment with the lack of detail on Tesla's AI and autonomy plans at the event. Musk did not provide data on the progress of the autonomy software in terms of more miles driven before a required human intervention.
On a more positive note, DHL, a German logistics company, found the Tesla Semi to be "ready for prime time" after a 3,000-mile test. The slower ramp-up at the Grünheide factory is likely due to insufficient Tesla demand in Europe. The factory recently produced the 400,000th Model Y and the three-millionth electric vehicle in China.
Interestingly, some visitors reported that Optimus robots at the event were partially remotely controlled. Musk did not explicitly state that the Optimus robots acted autonomously at the event but gave that impression. The company that conducted a test drive of over 3,000 miles with a Tesla Semi this summer has not been identified.
In terms of sales, Tesla recently set a sales record in China, while new registrations continued to decline in Germany.
In conclusion, while the 'We, Robot' event showcased Tesla's ambitious plans for autonomous vehicles and robots, it appears that the stock market and analysts are seeking more concrete details and progress in these areas.
Read also:
- IM Motors reveals extended-range powertrain akin to installing an internal combustion engine in a Tesla Model Y
- Ford Embraces Silicon Valley Approach, Introducing Affordable Mid-Sized Truck and Shared Platform
- Future Outlook for Tesla in 2024: Modest Expansion in Electric Vehicle Sales, Anticipated Surge in Self-Driving Stock
- New York City Bids Farewell to Rideshare Services Provided by Tesla Model Y, Given the Service's Termination
