Tesla shares dropped more than 5% in premarket trading following the company's robotaxi event, where CEO Elon Musk revealed the Cybercab, a self-driving concept car. The silver two-seater, lacking steering wheels or pedals, is expected to be produced before 2027, priced under $30,000. Analysts expressed disappointment over the lack of near-term updates on Full Self-Driving technology and Tesla's manufacturing plans. Barclays and Piper Sandler analysts noted a lack of details in Musk's presentation, suggesting the unveiling did not meet investors’ expectations.
Category
🗞
NewsTranscript
00:00It's Benzinga, and here's what's on the block.
00:03Tesla shares dropped more than 5% in pre-market trading following the company's RoboTaxi
00:07event where CEO Elon Musk revealed the CyberCab, a self-driving concept car.
00:12The silver two-seater, lacking steering wheels or pedals, is expected to be produced before
00:162027, priced under $30,000.
00:20Analysts expressed disappointment over the lack of near-term updates on full self-driving
00:24technology and Tesla's manufacturing plans.
00:28Barclays and Piper Sandler analysts noted a lack of details in Musk's presentation,
00:32suggesting the unveiling did not meet investors' expectations.
00:36For all things money, visit Benzinga.com.