Tesla’s value drops $60bn after investors fail to hail self-driving ‘Cybercab’ - eviltoast
Investors criticised lack of detail about the ‘robotaxi’ showcased by Elon Musk

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.

  • normanwall@lemmy.world
    107·
    1 month ago

    Lol this thing with a heavy battery would flip over at the mere sight of a bump, and everyone would die inside

    • filcuk@lemmy.zip
      101·
      1 month ago

      The center of mass is lower due to the battery, so I’d say the opposite is true.

      • normanwall@lemmy.world
        1·
        1 month ago

        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