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.
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.
🤮