Tesla finally presents its long-awaited Robotaxi, the Robovan and new version of its humanoid robot

Tesla unveiled its long-awaited Robotaxi Cybercab at the “We, Robot” event, held at the Warner Bros. Discovery studio in California. CEO Elon Musk presented a prototype of the Cybercab, which has no steering wheel or pedals and is expected to cost less than $30,000 (27,000 euros).

Elon Musk estimated the average cost of running the vehicle at just $0.20 (0.18 euros) per mile, and said consumers will be able to purchase one. The autonomous vehicle will rely on cameras and artificial intelligence for navigation.

In addition to the CybercabTesla also introduced the Robovanan autonomous vehicle with capacity for 20 people, and an improved version of its humanoid robot “Optimus.” Musk commented: “With autonomy, you get your life back.” Back in April, Musk had suggested that Optimus could be deployed in Tesla factories by the end of 2024.

The mass production of Cybercab could start in 2026possibly before. Musk stated that Tesla intends to begin unattended full self-driving (FSD) in Texas and California next year, using the Model 3 and Model Y.

Previously, he had indicated that Tesla expected to deploy FSD vehicles in early 2025subject to regulatory approval, although he acknowledged that his timelines have often been overly optimistic.

Robotaxi: Tesla’s future growth engine?

Tesla has been battling weakening global demand for pure electric vehicles, as well as growing competition from Chinese automakers.

Its main business, car sales, has seen year-on-year declines in the last two quarters. He Robotaxi launch It is considered a pivotal development for Tesla’s future growth as it marks a shift in focus from producing affordable cars to autonomous vehicles. However, the new approach may not be enough to convince investors of Tesla’s growth potential.

The company still faces important regulatory obstacles and you will have to earn the trust of customers.

Additionally, Tesla’s Robotaxi efforts lag behind competitors like General Motors’ Cruise and Alphabet-backed Waymo, which already have autonomous vehicles on public roads.

Tesla’s stock price trajectory

The performance of Tesla shares has been disappointing, with a drop of 4% so far this yearor, compared to a 21% rise in the S&P 500. It is the only technology company in the index that has registered a 4% drop so far this year.

It is the only technology company in the Magnificent Seven group to post negative performance. Tesla shares have fallen more than 7% since that he October 2 announced disappointing deliveries of electric vehicles in the third quarter.

The company delivered 462,890 vehicles, which represents a year-on-year increase of 6.4%, but did not reach the 470,000 planned deliveriesthat is, an annual increase of 8%. This shortfall increases the risk that Tesla will record its first-ever annual decline in auto sales.

Despite a 70% rise from its year-low in April, fueled by optimism over the first-quarter results of its affordable cars, Tesla shares may still be overvalued. The company remains classified as a growth stock, with a price-to-earnings (PE) ratio of 67, compared to NVIDIA at 63 and Meta at 30.

Its June quarter earnings per share (EPS) was $0.42, reflecting a year-on-year decrease of 46%. Tesla is scheduled to report its third-quarter results on October 23, and analysts expect earnings of $0.46 per share, representing a year-over-year decline of 13.2%.

In view of these figures, Tesla’s market valuation may still be inflated based on recent results.