Tesla shares fall after Cybercab update disappoints Wall Street
Tesla shares slip after Cybercab update disappoints investors and raises questions See why robotaxi hopes, pricing gaps, and safety review concerns may move TSLA next
Tesla shares fell 6% on Friday after the company’s latest Cybercab update failed to impress investors. The electric vehicle maker has been trying to position the driverless vehicle as a key part of its robotaxi strategy.
The event in Austin, Texas, was inviteonly, not livestreamed, and CEO Elon Musk did not attend. Tesla said riders could now take a driverless trip in a Cybercab within a geofenced area around Austin.
Analysts said the company offered limited new information on pricing, production timing, and regulatory approval. The National Highway Traffic Safety Administration also opened an audit query to review whether the Cybercab complies with federal safety standards. Tesla’s stock had risen the previous day ahead of the event.