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.
Musk: “I have concepts of a car.”
Even at face value, that’s still a massive red flag coming Musk. He gave us a concept of the cybertruck that actually looked pretty badass; then delivered a vehicle straight out the Playstation 1. Any concept he pitches can be assumed to be complete bullshit.
Lol this thing with a heavy battery would flip over at the mere sight of a bump, and everyone would die inside
The center of mass is lower due to the battery, so I’d say the opposite is true.
I was going to make a smart ass comment about how bad the Cyber truck is at off-road stuff but it turns out it’s actually hard to tip over even with the chassis above the centreline of the wheels
Analysts: “Is this ‘car’ in the room with us right now?”
It might not be a particularly new insight, but I find it worth repeating anyway: Musk truly is the new Ford. Runs his own company in the ground and has a hard-on for fascists.
With a bit of Edison thrown in for good measure. He’s constantly claiming to have invented things or founded companies that he had nothing to do with.
You’ll also notice it’s gold colored. Direct homage to trumps tastes.