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: “I have concepts of a car.”
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.
Lol this thing with a heavy battery would flip over at the mere sight of a bump, and everyone would die inside
Analysts: “Is this ‘car’ in the room with us right now?”
You’ll also notice it’s gold colored. Direct homage to trumps tastes.
You’re having a good time today lol
I always enjoy being able to Riker a post.
His lips are chapped these days.
It won’t be $30k, it won’t be full self driving, it won’t be ready for production by by 2027, it won’t replace all cars on the road by 2075.
It’s shocking that people aren’t calling him out on the fact that he also promised every Tesla on the road today would be capable of becoming a robotaxi, which was just an outrageous lie at the time and evidently they are no longer working towards making that plan a reality anymore if they’re designing dedicated autonomous vehicles. Letting him pitch a new robotaxi idea feels like letting him get away not having to face any consequences for his blatant bullshit.
Narayan added that some investors were hoping for a teaser about a lower-priced vehicle, with pedals and steering wheel, that would launch next year. However, none was forthcoming.
Expectations were low…
If the “taxi” was their new roadster it would have been at least a +10% jump.
Is he going to sue the investors?
“I hope they stop. Don’t invest. If somebody is going to try to blackmail me with investing, blackmail me with money? go fuck yourself. Go fuck yourself. Is that clear? I hope it is.”
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.
But, the cybervan can carry 20 people, revolutionary!!!
A whole sports team.
Go sports!
This company will soon have zero value under our fearless leader Elon Musk.
one of my old computer science professors said self driving cars “have been 5 years away for the past 20 years”. still rings true to this day
Self driving cars and net positive fusion, same same
Oh nobody’s predicting net positive fusion anytime soon. There’s huge materials hurdles in both magnetic confinement and inertial confinement while also regenerating tritium. Neutron radiation just does not play nice.
I agree with your professor. It’s one of these things that people have a hard time understanding. A lot of folks can easily imagine the end-state, but have no clue what has to be solved to arrive there. A lot of folks think that projects in electronics, software engineering, computing, etc. are just a linear march from beginning to end; failure is a human or resource problem. In reality, there are problems out there that get exponentially harder to pull off with linear inputs, which is much harder to imagine let alone a great way to scare off investors.
In this case, the framing of the problem is all wrong. We’re not trying to solve “a car that drives itself” (e.g. autopilot). Instead we are “simulating human sensory organs and cognition in order to pilot a vehicle without catastrophe or injury.” The latter is much harder to solve, but IMO, is a much more realistic portrayal of the job.
Deport Elon to Mars
Tesla: “hay guys we invented the bus, but cyber”
that’s really Something isn’t it
Oh please let us see Elon lose all his fucking money because he’s a gigantic ass hat.
Dude invented the city bus.
Awe shucks. Tesla should boot out Dork MAGAT and bring back Eberhard and Tarpenning. When Leon leaves, then I will consider a Tesla.
At least the robovan looks like a vehicle from a dystopian cyberpunk movie, and the bad guy cops (that are of course working for a private police firm) are being ready to burst out from it to try to arrest the good guys.
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.
