On October 10, 2024, Tesla unveiled its long-anticipated RoboTaxi at a groundbreaking event that left technology and automotive enthusiasts in awe. This big event called “We, Robot” where they unveiled their new Cybercab, an autonomous robo-taxi.
The event, held in Tesla’s headquarters, showcased not just a vehicle, but the future of urban mobility.
Elon Musk, Tesla’s CEO, introduced the latest autonomous driving technology that could reshape transportation as we know it. Additionally, Musk showcased the two-door vehicle with gull-wing doors, no steering wheel or pedals, and emphasized that production will start in 2026.
The Cybercab will be available for less than $30,000 and will cost only $0.20 per mile to operate.
Key Highlights of the event:
Cybercab
The Cybercab is Tesla’s fully autonomous robo-taxi, designed without a steering wheel or pedals. It’s a two-door vehicle with gull-wing doors, giving it a sleek, futuristic look. The production is set to start in 2026, and it will be priced under $30,000. The Cybercab aims to revolutionize ride-sharing by offering a safe, affordable, and efficient transportation option. Musk emphasized that autonomous vehicles are estimated to be 10 to 20 times safer than human-driven cars.
Robovan
The Robovan is an autonomous vehicle designed for transporting groups or goods. It can use for mass transit, construction, and food service. The Robovan is part of Tesla’s vision to create a fleet of autonomous vehicles that can cater to different transportation needs.
Tesla Bot
The Tesla Bot is a humanoid robot which is designed to help with daily tasks like house chores and running errands. It’s another step towards integrating AI and robotics into everyday life, making it easier for people to manage their homes and daily routines.
Optimus Humanoid Robots
Tesla’s Optimus humanoid robots are designed to perform a variety of everyday tasks. These robots can handle tasks like delivering packages, looking after children, and even mixing drinks. Musk described the Optimus robot as the “biggest product ever” and highlighted its potential to change daily life by automating routine tasks.
The event was held at a Hollywood studio and featured various themed areas. There was a Westworld area with Texas BBQ, a Metropolis area with arcade games, a TSLA Theater with pizza and desserts, and a New York block party with live music. The atmosphere was lively and engaging, reflecting Tesla’s vision for the future of autonomous transportation and robotics.
It was a grand showcase of Tesla’s innovations and their commitment to creating a sustainable and efficient future.
Elon Musk Statements
During the event, Musk emphasized that Tesla’s RoboTaxi service could dramatically reduce travel costs. Without the need for a driver, operational costs are lowered, making trips affordable for users. RoboTaxis are expected to be available at a fraction of the cost of traditional ride-hailing services. This has the potential to democratize access to transportation, especially for those who find owning a car too expensive.
Additionally, the widespread adoption of RoboTaxis could lead to fewer cars on the road, thereby reducing traffic congestion. Tesla’s autonomous vehicles equipped to communicate with one another. This can optimize traffic flow and reduce the frequency of accidents caused by human error. This could also have a ripple effect on urban planning, as cities may need fewer parking lots and roads designed for human-driven cars.
Another key point raised at the event was the potential impact on employment. While some concerns are about job displacement for professional drivers, Tesla is banking on the creation of new opportunities in tech and services related to RoboTaxi management, AI maintenance, and the broader autonomous vehicle ecosystem.
Musk highlighted the need for innovation-driven jobs that would arise from the company’s expanding operations. This shift towards an AI-driven transport model is not just about reducing costs or increasing convenience—it has the potential to reshape urban environments, economies, and societies at large.
Impact of Event on Stock Market
Tesla (TSLA) “We, Robot” event had a notable impact on its stock.
Tesla’s stock saw a 46% increase since the announcement of the event on April 5, 2024. However, leading up to the event, there was a slight dip of about 3% for the year.
Analysts were optimistic about the potential of the new innovations, hoping they would rejuvenate interest in the company and potentially lead to an increase in stock value after a period of stagnation.
Investors appeared to be excited about the prospects of the Cybercab and other innovations, which contributed to the positive sentiment around Tesla’s stock.
Overall, the event generated a lot of buzz and optimism, which positively influenced Tesla’s stock performance.
