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.

    • Fedizen@lemmy.world
      1·
      4 minutes ago

      none. But they would have to be electric so that they don’t lose fuel economy as 3x the number of cars on the road will 100% create traffic jams.

      • Fedizen@lemmy.world
        1·
        2 minutes ago

        the feds would have to start issueing grants for light rail like they do with roads for that to happen. Otherwise cities will always default to a free road over a paid train system