Tesla's stock drops 6% as Cybercab update 'underwhelms' Wall Street
Tesla's long-awaited Cybercab update failed to dazzle investors.
TL;DR
- Tesla shares declined 6% following the Cybercab update event.
- The update failed to provide significant new information, leaving key questions about pricing, production, and regulatory approvals unanswered.
- The National Highway Traffic Safety Administration is investigating if the Cybercab complies with U.S. safety standards.
- The Cybercab is a two-seat robotaxi with no steering wheel or pedals, in production since April.
- Tesla's Robotaxi service is now available to app users in a geofenced area around Austin, Texas.
- Early users have reported issues with routing errors, missed destinations, and long wait/ride times.
- The event was invite-only, not streamed, and CEO Elon Musk did not attend.