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.
I just don’t get why they still have him as CEO.
The man spends his time mostly on Twitter, driving it into the ground to simp for Trump. He’s taken obscene amounts of money from it, while failing to offer the simplest of products from its roadmap a decade ago - an affordable electric car.
If they don’t pivot in the next few years, they’ll run the risk of Tesla being leapfrogged to market more than it already has, with an inferior product to practically everyone that enters the EV market.
I still fully maintain that Musk will push Tesla towards making a petrol-powered car within the next few years, so IMO the board needs to get rid before that becomes a thing.
Musk said the company would start building the fully autonomous “Cybercab” by 2026 at a price of less than $30,000, and showed off a van he claimed was capable of transporting 20 people around town autonomously – which he said would reshape cities by turning car parks into parks.
$30,000 for a fully autonomous bus?
I think he made it reasonably clear that $30k was for the small self driving taxi, and the mini-bus would also become available
A two seater with lambo doors that look like they’ll immediately get sheared off by a passing truck that can’t see them. A laughable delivery timeline. And the “concept” bus looks like a Dustbuster that’ll get stuck in a pothole or on top of a speed bump with its current ground clearance. It’s almost like he’s deliberately trying to tank the stock making all this impractical shit.
Being surrounded by yes men and snorting buckets of cocaine will do that to you.
Musk is facing a LOT more practical scrutiny now that the cybertruck is an ongoing fiasco. People are rightfully wary of getting excited about a taxi that only seats two people. Anyone who’s been paying attention will also be suspicious of his claims that the taxi will actually cost under 30k, or that it will truly go into production “before 2027”.
I will admit that the van looks cool as hell. Of course, I still think Musk is a piece of human garbage, but I will give him that.
The Tesla Robovan (Musk pronounces it ruh-BO-vehn)
🤮
I just continue to be amazed that, instead of the old, tried-and-true method of giving people what they want—a solid, reliable car at a good price, and a stellar charging network in the places people want to be—a man of his means keeps trying weird gimmicks.
It’s not so surprising when you consider the fact that he’s nothing but a charlatan.
Just a colossal idiot with enough money and little enough self awareness that everyone is indulging his every whim and he never stops to consider that maybe he isn’t a visionary and a genius.
I’m just getting into stocks. Would this be a good time to invest now that it’s low?
Generally yes, buy when it is low. Have a look at some graphs of recent performance to see if this is lower than typical weekly low points
Tesla does have room to expand; the biggest risk is that Musk does something stupid that damages Tesla, he has not done so yet - he seems competent at running (or has given important parts of the job to competent people) Tesla and SpaceX
Safer investment is through exchange traded funds, especially those which track major indexes (also known as index funds). You buy these the same way you buy other stocks - you’re buying shares in the fund
What problems do autonomous taxies solve that are worth this investment of possibly decades?
Edit: grammar
They should outcompete Uber and the others. They should provide very low cost point to point transport
I was making a point that the overall goal is for people to get from point A to point B. There are known solutions for that (trains, busses), investing millions into this just to replace taxis/Uber sounds ridiculous to me. This seems to me just an investment to promote the car centric mentality for solving such problems
Yeah public transport is ideal for most transport cases and should be funded by cities to the level to allow it to provide that
But still some cases call for individual transport and my preference on that is taxis over Uber and the like as taxis have a duty to pick up anyone who can pay which the newer companies don’t
I hope that self driving taxis include accessible ones, I expect there will still need to be a class of staffed cars to help people who need assistance - eg those who can’t lift their bag into our out of the vehicle, those who need assistance to put on a seat belt
Do you find autonomous cars at a clear advantage in those cases where you think cars are still preferred?
Tesla: “hay guys we invented the bus, but cyber”
For clarity, this means the stock is back to the price it was in September. I know car-man-bad but I get tired of these sensationalized articles that are only shared because they confirm that someone we like is bad actually
Bro. Just one more year bro. I swear bro. Just one more year and we’ll have full self driving bro.
Don’t lose faith bro. Or I’ll sue you and call you a pedo guy.
