Elon Musk’s robotaxi launch fails to wow Wall Street — and leaves Tesla analysts with more questions than answers
October 11, 20240
Elon Musk has unveiled Tesla’s robotaxi.
Tesla
In a research note, Jefferies analysts covering Uber called out Tesla’s lack of verifiable proof of progress toward autonomous driving. They also underlined the challenges of scaling a robotaxi business, from the tech required to the regulation involved and the complexity of routing and fleet management.
Garrett Nelson, a senior equity analyst at CFRA Research, said in a research note the Tesla event “raised a lot of questions,” and he was “disappointed by the lack of detail” about the company’s short-term product road map.
Wedbush analyst Dan Ives, a longtime Tesla bull, said in a research note the Cybercab’s design was “very impressive,” and Optimus was closer to becoming reality than he expected. He also hailed the prospect of a robotaxi fleet as transformative for Tesla, saying it “could be a $10 billion annual business at scale.”
