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October 11, 2024
Tesla has unveiled its long-awaited "Cybercab" robotaxi, but the humanoid robot Optimus could prove even more lucrative for the company. At the same time, the electric car maker is facing the departure of several senior executives.
On Thursday, Tesla unveiled its Cybercab autonomous robotaxi at an event in California. The futuristic two-seater vehicle resembles a scaled-down Cybertruck with falcon-wing doors. CEO Elon Musk announced that production is expected to begin in 2026, at a price of under $30,000. Tesla presented 20 examples of the vehicle, exceeding expectations of a single prototype.
Musk reinforced his vision that autonomous transport will become a personalized mass transit system due to lower costs. He estimates the long-term operating cost of the Cybercab to be around $0.20 per mile. Tesla also showed a Robovan minibus for up to 20 passengers but did not give a timeline for its launch.
The CEO has been promising self-driving technology since 2016, with unfulfilled predictions of one million robotaxis by mid-2020. The current plan aims to enable fully autonomous driving for the Models 3 and Y in California and Texas next year. Musk acknowledged his optimistic timelines but reiterated his vision that Tesla owners will be able to earn income through a ride-sharing app.
While the Cybercab garnered a lot of attention, the humanoid robot Optimus could prove to be Tesla's most profitable product. Musk described Optimus as potentially "the greatest product of all time, of any kind" with projected revenue of up to $25 trillion. At the event, five Optimus units danced while others served drinks and interacted with guests, demonstrating different accents and personalities. Musk did not comment on whether the robots were remotely controlled, but the speed and human-like movements of the robots in the crowd could be a sign.
Tesla lost four senior executives in the past week, including the Chief Information Officer and the Director of Public Policy and Business Development. Former employees cite burnout and frustration with Musk's leadership style and frequent restructuring as reasons. The company is under pressure to monetize its models and develop viable business strategies as competition in the electric vehicle market increases, particularly from established automakers and Chinese companies.
The unveiling of the Cybercab and the presentation of Optimus mark a turning point for Tesla. Whether the company can achieve its ambitious goals and overcome the challenges remains to be seen. The coming years will show whether Tesla can maintain its leadership in the world of electromobility and robotics.
