Tesla has added the Cybercab to its robotaxi fleet. The scale of the launch is unknown, and the stock price has fallen.
The company held a private presentation without a livestream and did not disclose how many Cybercabs would be put into service immediately
The long-awaited unveiling of the Tesla Cybercab failed to give investors what they wanted most—an understanding of how quickly the new model will be able to expand the robotaxi fleet / Photo: X / Tesla
After nearly two years of preparation, Tesla officially added the two-seater Cybercab to its robotaxi fleet at a presentation on September 3 in Austin, Texas, where the company is headquartered. Invited guests were able to take a ride in the new vehicle, which has no steering wheel or driver; however, Tesla did not disclose how many of these vehicles it will immediately put into service for commercial rides.
A Low-Key Launch
Unlike most Tesla events, the launch received almost no public coverage, Electrek notes. Attendance at the presentation was by invitation only; there was no live stream, and members of the media were not allowed in. Sawyer Merritt, an event attendee and blogger who writes about Tesla, posted on X showing his ride in the Cybercab.
“Cybercab is now officially joining the robotaxi fleet. You can go outside and take a ride. It’s available to anyone who wants to use it,” said Ashok Elluswamy, head of AI at Tesla, during the presentation, according to Bloomberg.
Tesla has also launched a Cybercab webpage stating that the vehicle is now available in the ride-hailing network in certain areas of Austin. However, by the evening of September 3, local time, it was not possible to select this specific model when booking a ride through the app, the agency reports.
How many cars were produced?
Cybercab, which has been tested in several U.S. cities in recent months, is considered a key part of Tesla’s plan to transition from an electric vehicle manufacturer to a developer of AI-based products, according to Bloomberg. Tesla CEO Elon Musk has called this model the future foundation of a large fleet of robotaxis capable of covering most of the country, and has promised to put thousands of vehicles on the road. However, Musk’s ambitious plan has not yet come to fruition, the agency notes.
By the evening of September 2, Tesla had registered 45 Cybercabs in Texas, but it remains unclear how many of them were used during the launch, Bloomberg notes. Morgan Stanley analyst Andrew Percoco speculated that this is merely preparation for a large-scale rollout of the service.
Before the introduction of the Cybercab, the company used the standard Model Y electric vehicle as a robotaxi, equipped with special versions of the FSD driver-assistance system designed for operation in restricted urban areas, according to Electrek. Model Y vehicles still make up the bulk of Tesla’s Texas fleet.
It currently has 420 vehicles—half as many as market leader Waymo, according to Bloomberg.
What about the stocks?
Perko from Morgan Stanley outlined two possible scenarios for Tesla stock in advance: “If the event turns out to be just a presentation, followed by the release of a limited number of vehicles, we expect a sell-off. Conversely, a broad rollout that significantly expands Tesla’s fleet of robotaxis could inspire investors,” the analyst wrote (as quoted by Bloomberg).
Ahead of the launch of Cybercab, Tesla shares jumped 5.4% at the close of regular trading on the Nasdaq on September 3. In after-hours trading, the stock lost 0.5%, and in over-the-counter trading , the decline accelerated to nearly 2%. Since the beginning of this year, Tesla has lost more than 16% of its market value, while the S&P 500 index has gained 13%.
This article was AI-translated and verified by a human editor
