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
    2·
    2 months 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.

    • Scolding7300@lemmy.world
      2·
      2 months ago

      And even then the amount of energy wasted on traveling empty from drop offs to pickups would probably be collossal. Not to speak of the infrastructure we don’t have to keep these charged