Transportation
Tesla Shares Sink After Musk’s Robotaxi Unveiling Disappoints
- CEO shows off two-seat Cybercab and spacious Robovan concept
- Carmaker has track record of blowing past product timelines
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Elon Musk unveiled Tesla Inc.’s highly anticipated self-driving taxi at a flashy event that was light on specifics, sending its stock sliding as investors questioned how the carmaker will achieve its ambitious goals.
The chief executive officer showed off prototypes of a slick two-door sedan called the Cybercab late Thursday, along with a van concept and an updated version of Tesla’s humanoid robot. The robotaxi — which has no steering wheel or pedals — could cost less than $30,000 and “probably” will go into production in 2026, Musk said.