Elon Musk Cybercab at Tesla Robotaxi Events Highlights: Bank stocks moved a lot this morning Tesla’s share price was down nearly 7% ahead. Today’s market opened after a much-hyped event in California from the world’s richest man Elon Musk. The boss of Tesla showcased a long-promised robotaxi it comes with two Gullwing doors and no steering wheel or pedals. 

Elon Musk Cybercab at Tesla Robotaxi production

He says production will start in 2026 but he does always tend to be a bit optimistic about time frames. This event itself was much delayed he also showed off a robotaxi van a self-driving van capable of carrying 20 people. And then of course there were the humanoid robots. Lots of robots who did of course do some dancing well joining me now. 

From Chicago is Seth Goldstein who is chairman of the EV committee at Morning Star. It’s great to see you Seth this event was highly anticipated did it delivered well. We see the market was skeptical of what we heard last night. 

I think investors were hoping to get more details on Tesla’s actual plans. But in my mind, they signaled a big step forward by planning to launch the full self-driving robotaxi unsupervised version in California and Texas next year. The ultimate timeline for Tesla to get to where they are today. 

Where autonomous driving software still needs the driver to be alert and paying attention to the robotaxi ultimately requires first. They get to the FSD unsupervised version. And so I think they are making progress but ultimately we’re still years away from any robottaxi reproduction and I think that’s why the stock is selling off today. 

So it’s the timeline, not the technology yes well with the more delayed timeline I think that leads to more uncertainty. Over will the technology works Tesla is taking the first step in the right direction. But ultimately they still have to prove that the full self-driving Tech can work. 

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And that it can be safe on streets we have seen other autonomous driving Vehicles enter a market like California. And ultimately have to take a step back or pause vehicles in service due to oper operational issues. And so we’ll see what happens next year with the rollout. 

I think it’s a positive sign but still a lot remains to be seen and a lot of uncertainty Seth zooming out for a second obviously. Those are some of the challenges but why is this so significant remind explain to our viewers. Why this is such a big moment well if Tesla can solve autonomy and launch a robotaxi with zero pedals and zero steering wheel. 

Benefits of Tesla Robotaxiin future

Then we do have the car of the future where a driver or a passenger in the vehicle can relax or do whatever they want to. The vehicle can fully drive itself that’s that is Tesla’s vision for the future. That’s what they’re aiming to solve and if they’re the first ones to be able to offer a fully level five autonomous vehicle. 

Then that puts us one step closer to a much different future of Transportation. They’re making progress but still, a lot remains to be seen if they can get their go we’re going to have to leave it there we didn’t even get to talk about those dancing robots.