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.

    • @[email protected]English
      61•1 month ago

      Even at face value, that’s still a massive red flag coming Musk. He gave us a concept of the cybertruck that actually looked pretty badass; then delivered a vehicle straight out the Playstation 1. Any concept he pitches can be assumed to be complete bullshit.

      • @[email protected]
        56•1 month ago

        That thing looks AI generated. Better than what we got but still ridiculous. I mean, it’s huge but still somehow doesn’t really seem to have much space for passengers or cargo at the same time

        Also, why is the cabin aerodynamic while the hood is not? The whole thing is nonsensical

      • @[email protected]
        3•1 month ago

        Lol this thing with a heavy battery would flip over at the mere sight of a bump, and everyone would die inside

          • @[email protected]
            1•1 month ago

            I was going to make a smart ass comment about how bad the Cyber truck is at off-road stuff but it turns out it’s actually hard to tip over even with the chassis above the centreline of the wheels

    • @[email protected]
      22•1 month ago

      It might not be a particularly new insight, but I find it worth repeating anyway: Musk truly is the new Ford. Runs his own company in the ground and has a hard-on for fascists.

      • @[email protected]
        16•1 month ago

        With a bit of Edison thrown in for good measure. He’s constantly claiming to have invented things or founded companies that he had nothing to do with.