Week 41/24 Tesla Update: Response to Robotaxi debut, Environmental data, and China delivery figures; DHL trials semi-truck

Tesla's Robotaxi Event: A Mixed Bag of Announcements

In a recent event, Tesla unveiled its latest innovations, including the Cybercab robotaxi and updates on its autonomy software. The event, held on a Warner Brothers film set, was attended by approximately 2000 guests.

Elon Musk, Tesla's CEO, presented the Cybercab, a futuristic vehicle designed to transport up to 20 people without a human driver. The Cybercab features two seats and two upward-opening doors, and lacks a steering wheel and pedals. Musk reiterated that humanoid robots would become a significant focus for Tesla, potentially surpassing the importance of electric cars and autonomous driving.

However, the event received mixed reviews. Even usually optimistic analysts expressed disappointment with the lack of detail about Tesla's AI narrative and FSD improvements. Morgan Stanley, in particular, expressed concern, with a PT (Price Target) of $310.

One of the most significant announcements was the readiness of the Tesla Semi for mass production, as reported by DHL, a U.S. subsidiary of the German logistics company. DHL found the Tesla Semi to be "ready for prime time" after a 3000-mile test. DHL plans to integrate the Tesla Semi into its own network before mass production begins in 2026.

Tesla's stock price dropped around 9 percent on Friday following the event, reflecting the mixed reactions from analysts and investors.

On a positive note, Tesla recently set a sales record in China and was up 6% year-to-date as of September. The three millionth electric vehicle produced in China rolled off the production line last week. Tesla's plant in Grünheide has now produced its 400,000th Model Y since production began in March 2022.

The Cybercab robotaxi is expected to go into production by 2027 at the latest. However, Tesla has not yet obtained any approval for tests with actual autonomy, unlike its competitors. The company also did not mention any targeted start year for the Robovan, a larger vehicle designed to transport up to 20 people without a human driver.

There were also doubts about the autonomy of the Optimus robots, as some visitors claimed that human remote assistance was involved. Musk has not provided data on the progress of the autonomy software in the form of more miles driven without human intervention.

Despite the mixed reactions, the event marked another step forward in Tesla's ambition to revolutionise transportation with autonomous vehicles and humanoid robots.

Week 41/24 Tesla Update: Response to Robotaxi debut, Environmental data, and China delivery figures; DHL trials semi-truck