Cybercab, a new autonomous vehicle from Tesla

Musk rode onto the stage at Cybercab and said production would begin in 2026 and the vehicles could be purchased for less than $30,000. Robotaxi has two gull-wing-shaped doors and no steering wheel or pedals.

“The autonomous future is here,” Musk said. – We have 50 fully autonomous cars here tonight. You will see Model Y and Cybercab – he told those gathered at the Tesla event.

According to Tesla, the cost of traveling a mile (1 mile is 1.609344 kilometers) for a “cybertaxi” is to be 20 cents, it is to use wireless chargers and does not require any connection to a charging station. The vehicle will rely on cameras and artificial intelligence.

Musk also unveiled a larger, autonomous vehicle – Robovan – that can accommodate up to 20 people, as well as Tesla's humanoid robot Optimus.

As Reuters notes, enthusiasm around the event has been visible on social media for weeks, with screenshots of invitations and speculation about what might be revealed. However, investors and analysts have noted the technology's challenges and are more cautious in their approach.

Musk's plan is to operate a fleet of autonomous Tesla taxis that passengers can hail via an app. Individual vehicle owners will also be able to earn money by renting out their “robotaxis”.

– Everything looks nice, but there are gaps when it comes to the time frame. I am a shareholder and I am quite disappointed. “I think the market wanted a more definitive time frame,” Dennis Dick, equity trader at Triple D Trading, told Reuters. – I don't think he said too much about anything… He didn't provide too much information – commented on Musk's speech.

Musk said in 2019 that he was “very confident” the company would have an operational “robotaxi” by next year. Following unfulfilled promises, Musk has focused on vehicle development this year after abandoning plans to build a smaller, cheaper car as a remedy for slowing demand for electric vehicles. As Reuters points out, Tesla is facing its first-ever drop in deliveries this year as purchasing incentives failed to attract enough customers. Sharp price cuts to offset high prices interest rates also reduced profit margins.

Complex technology and stringent regulation have led to billions of dollars in losses for other companies trying to enter the autonomous vehicle market, forcing some to close their operations. Some are still pushing, including General Motors Cruise, Amazon, Zoox, as well as Chinese companies like WeRide.

Unlike expensive equipment such as lidar (a method of determining distance by illuminating a target with laser light and measuring its reflection with a sensor) that others use, Musk relies solely on cameras and artificial intelligence to support “full self-driving.” This solution is intended to reduce costs.

However, the system requires constant attention from the driver and has come under regulatory and legal scrutiny after it resulted in at least two fatal accidents involving the technology.