Elon Musk unveils Cybercab at Tesla robotaxi event

Elon Musk, the CEO of Tesla, has recently introduced a new robot taxi called the Cybercab during an event at Warner Bros Studios in Burbank, California. The Cybercab is designed to look very futuristic, featuring two wing-like doors and lacking traditional elements such as pedals and a steering wheel. Mr. Musk arrived at the event to a crowd eager to learn more about this innovative project, which he believes is crucial for Tesla's future. He reiterated his belief that fully self-driving vehicles will be safer than those driven by humans and could even generate income for their owners by being rented out for rides. However, he also mentioned that production of the Cybercab is expected to begin sometime before 2027, which raised concerns about whether he would be able to meet this timeline. He humorously remarked, 'I tend to be optimistic with time frames. ' Furthermore, he stated that the Cybercab would be priced at less than $30,000, but analysts have expressed skepticism about the feasibility of this plan. Paul Miller, a researcher from Forrester, commented, 'It will be extremely difficult for Tesla to offer a new vehicle at that price within that timescale. ' He added that without external subsidies or if Tesla were to incur losses on each vehicle, it seems unlikely that they could launch at such a price point within this decade. During the event, Mr. Musk also shared his expectations for fully autonomous technology to be available in Tesla's Model 3 and Model Y vehicles in Texas and California next year, contingent upon regulatory approval. However, obtaining this approval is not guaranteed. Samitha Samaranayake, an associate professor of engineering at Cornell University, highlighted the significant safety concerns associated with self-driving cars, stating, 'It is a big chunk of metal driving on roads at high speeds. ' Tesla's ambitions for self-driving technology rely on using cameras that are more affordable than radar and Lidar sensors, which are commonly used by many of its competitors. By teaching its cars to drive using artificial intelligence trained on the raw data collected from its millions of vehicles, Tesla aims to achieve its self-driving goals. However, the research community remains skeptical about whether Tesla's approach can provide the necessary safety assurances. The Cybercab project has faced delays, as it was initially slated for release in August. This past summer, Mr. Musk explained that the delays were due to important design changes he deemed necessary. Meanwhile, other robot taxis are already operating on certain roads in the United States. Tesla is also on track to experience its first-ever decline in annual sales as competitors continue to enter the electric vehicle market, even as overall sales have softened. Despite this challenging backdrop, the event was filled with excitement, featuring Tesla's humanoid robots dancing and serving drinks to attendees. Mr. Musk also unveiled another prototype called the 'Robovan,' which has the capacity to transport up to 20 passengers at a time. Dan Ives, managing director at Wedbush Securities, who attended the event, remarked, 'Can you imagine going down the streets and you see this coming towards you? That would be sick. ' Mr. Musk expressed his enthusiasm as the Robovan made its entrance at the event. A screengrab from Tesla's livestream showcased the sleek gold and black Robovan as it drove into the center of the presentation. Another analyst noted that the event felt like a nostalgic trip down memory lane while also signaling the future direction of transportation. Jessica Caldwell, head of insights at Edmunds, stated, 'Musk did a fantastic job of painting an ideal future for transportation that promises to both free up our time and increase safety. ' However, despite the impressive showmanship, there are lingering doubts about whether he can deliver on the ambitious vision he outlined. 'Many questions remain about how this will be achieved from a practical standpoint,' Caldwell added. The robotaxi market has faced its share of challenges, particularly after a driverless car operated by General Motors' subsidiary was involved in an accident with a pedestrian. Nevertheless, the sector continues to expand. Waymo recently announced plans to add the Hyundai Ioniq 5 to its robotaxi fleet after the vehicles undergo on-road testing with the company's technology. Ride-hailing giant Uber is also looking to incorporate more autonomous vehicles into its fleet to enhance its delivery and ridesharing options for customers. In August, Uber formed a multi-year alliance with driverless car developer Cruise. Additionally, Chinese tech company Baidu is actively working to expand its robotaxi division, Apollo Go, beyond China, where the vehicles are already operational in several cities.