The vehicle, designed with a futuristic aesthetic and featuring two wing-like doors, lacks both pedals and a steering wheel, allowing Musk to arrive in front of an audience eager to learn about this crucial project for Tesla's future.
During the event, titled "We, Robot," Musk reiterated his belief that fully autonomous vehicles would be safer than those driven by humans and could generate income for their owners by being rented out for rides.
However, Musk's statement that production would start "before 2027" has raised skepticism regarding his ability to meet these timelines. He humorously acknowledged his tendency to be overly optimistic about timeframes during the event.
Musk mentioned that the Cybercab, which will compete with companies like Alphabet-owned Waymo, is expected to be priced below $30,000 (£23,000). Nevertheless, analysts have expressed doubts about the feasibility of this plan. Paul Miller from Forrester Research stated, "It will be extremely difficult for Tesla to offer a new vehicle at that price within that timescale.
Without external subsidies or Tesla taking a loss on each vehicle, launching at anything close to that price this decade doesn't seem plausible."
In addition, Musk anticipated the availability of "fully autonomous unsupervised" technology in Tesla’s Model 3 and Model Y in Texas and California next year, contingent on regulatory approval. However, such approval is not guaranteed.
Samitha Samaranayake, an associate professor in engineering at Cornell University, highlighted significant safety concerns, noting, "It is a big chunk of metal driving on roads at high speeds, so safety concerns are big."
Tesla's approach to self-driving relies on cameras that are less expensive than the radar and Lidar sensors utilized by many competitors. By teaching its vehicles to drive using artificial intelligence (AI) trained on data from its vast fleet, Tesla aims to navigate the roads. However, the research community remains skeptical about whether Tesla's methodology can provide the necessary safety assurances.
The Cybercab project has faced delays, originally slated for release in August. Musk stated this summer on X (formerly Twitter) that the postponement was due to important design changes. Meanwhile, rival robotaxis are already in operation on U.S. roads.
Tesla appears to be on the brink of its first annual sales decline as competitors increasingly enter the electric vehicle market, even as overall sales have softened. Despite this challenging environment, Tuesday's event was filled with spectacle, including Tesla’s humanoid robots dancing and serving drinks to attendees.
Additionally, Musk introduced a new prototype called the "Robovan," capable of transporting up to 20 passengers. Dan Ives, managing director at Wedbush Securities and an attendee at the event, noted that the sleek shuttle "could be a mode of transportation over the coming years that Tesla leverages."
While some analysts described the event as a nostalgic reflection of the past with a glimpse of the future, doubts linger about Musk's ability to realize his ambitious vision.
Jessica Caldwell, head of insights at Edmunds, remarked, "Musk did a fantastic job of painting an ideal future for transportation that promises to both free up our time and increase safety." However, she cautioned, "Many questions remain about how this will be achieved from a practical standpoint."
The robotaxi market has faced challenges, as demonstrated by the suspension of driverless cars operated by General Motors subsidiary Cruise in San Francisco following a pedestrian accident. Nevertheless, the sector continues to grow. Waymo recently announced it would incorporate the Hyundai Ioniq 5 into its robotaxi fleet after undergoing on-road testing with its technology.
Ride-hailing giant Uber is also looking to expand its autonomous vehicle offerings to enhance its delivery and ridesharing services, having announced a multi-year partnership with Cruise in August.
Meanwhile, Chinese tech firm Baidu is reportedly planning to extend its Apollo Go robotaxi division beyond China, where the vehicles are currently operational in multiple cities.
Credit:Graphic Online, GDNOnline.
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