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.

  • affiliate@lemmy.world
    18·
    4 hours ago

    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

      • ✺roguetrick✺@lemmy.world
        5·
        2 hours ago

        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.