Investors criticised lack of detail about the ‘robotaxi’ showcased by Elon Musk

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.

  • psud
    1·
    2 months ago

    They should outcompete Uber and the others. They should provide very low cost point to point transport

    • Scolding7300@lemmy.world
      1·
      2 months ago

      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

      • psud
        1·
        2 months ago

        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