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Sleep at the Wheel, Elon Musk Unveils "Cybercab" & "Robovan" Dream in Burbank, Tesla Stock Nosedives 8%

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Published on October 11, 2024
Sleep at the Wheel, Elon Musk Unveils "Cybercab" & "Robovan" Dream in Burbank, Tesla Stock Nosedives 8%Source: Tesla, Public domain, via Wikimedia Commons

In a move to drastically shape future transportation, Tesla's CEO Elon Musk recently unveiled the company's latest step towards fully autonomous driving with the introduction of the "Cybercab" and a large "Robovan" at an invitation-only event at Warner Bros. Studios in Burbank. Clad in a futuristic design devoid of pedals or steering wheels, the Cybercab suggests an ambitious pivot towards a driverless era.

While detailing the new vehicles, Musk explained to attendees that the transition to "unsupervised Full Self-Driving," where passengers can "fall asleep and wake up at your destination," is imminent. However, market readiness for these vehicles is expected to take a couple of years, with the Cybercab's launch anticipated "before 2027," as Musk confidently proclaimed. These claims, as reported by CBS News, show that Tesla aims to first apply this technology to its existing Model 3 and Model Y, starting in Texas and California next year.

The revelation of the Cybercab led to an 8% drop in Tesla's stock price the following day. Skepticism also arose regarding Musk's timeline, given past delays and the ambitious nature of the $30,000 Cybercab.

"It will be extremely difficult for Tesla to offer a new vehicle at that price within that timescale," observed Paul Miller from Forrester, as cited by the BBC.

The Cybercab ceremony, dubbed "We, Robot," also highlighted Tesla's entry into the autonomous shuttle service with the Robovan, designed to carry up to 20 passengers. According to CNBC, Musk expressed that the van would "solve for high density," and that, like the Cybercab, it would utilize inductive charging. Nevertheless, Musk's pledge to begin making these futuristic machines by 2027 underscores the ambitious plans Tesla has for the mobility sector.