Tesla has been teasing its Cybercab, a driverless vehicle designed without a steering wheel or pedals, through social media posts and an upcoming event in Austin, Texas. CEO Elon Musk's comments and the circulation of Cybercab prototypes in Austin have fueled investor optimism about a potential rollout of these vehicles.
Currently, Tesla has over 200 'unsupervised' vehicles capable of operating without a human driver in specific areas, but the company still relies on human drivers for its Full Self-Driving (FSD) system. Analysts from Morgan Stanley have indicated that a successful announcement regarding the Cybercab could help Tesla's stock regain momentum, which has declined by about 21% this year.
They have set a price target of $400 for Tesla shares, emphasizing that growth in the unsupervised fleet is crucial for the stock's performance. Meanwhile, Tesla faces scrutiny from the National Highway Traffic Safety Administration over its automated driving systems and has been criticized for its handling of safety data.
As Tesla prepares for the Cybercab update, the market is keenly watching for developments that could reshape its position in the competitive robotaxi landscape, particularly against Waymo's established service