Tesla's Robotaxi Reveal Event Delayed, Musk Cites Design Updates
2 Sources
2 Sources
[1]
Why Elon Musk Delayed The Tesla Robotaxi Event
Musk said the event will happen later than expected but didn't say exactly when. Tesla CEO Elon Musk said confirmed in an X post on Monday that an event meant to showcase Tesla's design for an autonomous taxi will happen later than previously announced. Musk said he asked for "an important design change to the front, and extra time allows us to show off a few other things." Musk first announced the event in April, saying that the time that Tesla would show off a robotaxi -- potentially called the CyberCab -- just a few months later on August 8. Earlier this week, Bloomberg reported that Tesla planned to delay the event to October so that the automaker could build additional prototypes. In Monday's post, Musk didn't specify when the event will actually take place. It's also unclear what the "few other things" he noted are. These could have to do with the robotaxi or the other AI-related efforts that Musk is increasingly obsessed with, like Tesla's Optimus robot. Tesla has touted big plans for self-driving cars for many years now, but it hasn't delivered yet. The automaker sells an add-on feature called "Full Self-Driving," but it requires driver supervision as it navigates the world and is far from perfect. Musk envisions a self-driving taxi network that uses both purpose-built robotaxis -- the vehicle we were expecting to see for the first time in August -- as well as cars from Tesla customers who opt in. The CEO has said that Tesla's future rides on its ability to deliver self-driving technology. And Wall Street agrees, rewarding Tesla with a market capitalization that's several times that of its automaker peers. As far as Musk sees it, the robotaxi is central to Tesla's future as a tech and AI company. Investors and fans are surely hoping it's worth the wait.
[2]
Elon Musk says the robotaxi team has extra time to update the design
Elon Musk responded on social media site X to a question about the timing of the robotaxi event. He stated that he requested what he thinks is an important design change to the front of the robotaxi model. Musk added that the extra time allows the electric vehicle maker to show off a few other things. The Tesla (NASDAQ:TSLA) CEO did not offer a new date for the robotaxi reveal. The robotaxi event was originally scheduled for August 8. Earlier in the day, Morgan Stanley updated investors that it does not think a delay in the robotaxi event would be a negative. Analyst Adam Jonas and his team see scope for the postponed robotaxi day to highlight more of Tesla's (TSLA) embodied AI capabilities beyond app-based autonomous cars. The firm expects Tesla's Master Plan 4 to be underpinned by its commercial ambitions in AI, robotics, and hybrid compute (including distributed thermal and compute in the car) that spans from cloud to edge. "Over the next few months/quarters we expect to see the world of GenAI (digital AI assistants) colliding with the automotive ecosystem," noted Jonas.
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Elon Musk announces postponement of Tesla's highly anticipated Robotaxi reveal event, originally scheduled for August 8. The delay allows for design updates, with a new date yet to be announced.
Tesla Postpones Robotaxi Unveiling
Tesla's CEO Elon Musk has announced a delay in the company's much-anticipated Robotaxi reveal event, originally scheduled for August 8, 2023. The postponement comes as a surprise to many Tesla enthusiasts and investors who were eagerly awaiting details about the autonomous taxi service 1.
Reasons for the Delay
According to Musk, the delay is not due to setbacks but rather an opportunity for improvement. The Robotaxi team has been granted additional time to refine and update the design before the big reveal 2. This decision suggests that Tesla is committed to presenting a more polished and advanced product when the event eventually takes place.
Implications for Tesla's Autonomous Driving Plans
The Robotaxi project is a crucial component of Tesla's ambitious autonomous driving strategy. The company aims to create a fleet of self-driving vehicles that can operate as a ride-hailing service, potentially revolutionizing urban transportation 1. The delay in the reveal event may indicate that Tesla is taking extra precautions to ensure that its autonomous technology meets the highest standards of safety and efficiency.
Market Reaction and Investor Sentiment
While the postponement might disappoint some, it has not significantly impacted Tesla's stock price. Investors seem to be taking a long-term view, recognizing that thorough development and testing are essential for such a groundbreaking technology 2. The market's relatively calm response suggests confidence in Tesla's ability to deliver on its promises, albeit with a slight delay.
Future Expectations
As of now, Tesla has not announced a new date for the Robotaxi reveal event. Musk's statement implies that the delay is temporary, and the company is still committed to showcasing its autonomous taxi technology in the near future 1. Industry observers and Tesla enthusiasts will be keenly watching for updates on the new event date and any hints about the improved design features that prompted the postponement.
Broader Context of Autonomous Vehicle Development
Tesla's Robotaxi project is part of a larger trend in the automotive industry, with many companies racing to develop fully autonomous vehicles. The delay in Tesla's reveal event highlights the complex challenges involved in bringing self-driving technology to market, including technical hurdles, regulatory considerations, and the need for public trust 2.
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