Tesla has unveiled its long-anticipated autonomous taxi, the Cybercab, but some analysts suggest it lacks compelling features to impress investors. During the “We, Robot” showcase held on the night of October 10, CEO Elon Musk introduced the Cybercab, a low-chassis, silver-painted concept vehicle that accommodates two passengers and has no steering wheel or pedals. Musk spoke ambitiously about the company’s goal to manufacture large volumes of fully autonomous vehicles and robots.

Musk stated that Tesla aims to begin mass production of the Cybercab, also known as the Robotaxi, in 2027, with a target price of under $30,000. However, he did not provide specific details about where the vehicles will be produced.

Additionally, Musk expressed hopes to install the “unsupervised Full Self-Driving” (FSD) system in the Tesla Model 3 and Model Y in Texas and California next year. Currently, the Full Self-Driving option requires drivers to be attentive, remaining in the driver’s seat to maintain control of the vehicle.

Alongside the Cybercab, Musk also showcased a Robovan, an autonomous shuttle capable of transporting up to 20 people or cargo to address high-density transportation issues.

Following the showcase, analysts from Jeffries quickly released comments with the headline, “We weren’t impressed.” Barclays analysts argued that Musk’s announcements did not highlight any immediate concrete plans for Tesla, but rather reflected his personal vision for the future of full autonomy.

A Barclays analyst remarked, “As expected, like in previous Tesla showcases, this event lacked details and focused more on the vision for AI and autonomous vehicles, which is meant to support Tesla’s growth.” Moreover, the public did not receive any data that would demonstrate recent upgrades or improvements to the FSD system.

Piper Sandler analysts wrote in their report that most investment firms focused on trading were not impressed by the Cybercab reveal. They noted that if Tesla stock faces selling pressure in the coming weeks, it wouldn’t be surprising, given that the momentum leading up to the event has dissipated.

On November 11, Tesla’s stock closed at $217.80, down 9%, marking a 12% decline in market value this year and a 17% decrease over the past year. Analysts pointed out that with the ongoing development of self-driving software and regulatory changes, autonomous taxi services may not be officially launched for another two to three years.

The stylish two-seater Cybercab is expected to begin production in 2026, with costs estimated below $30,000. However, technical details and future market strategies for the taxi fleet were notably absent from the presentation. Given the high expectations surrounding self-driving taxis, the novelty of the event failed to meet investors’ anticipation, leading to a significant drop in stock prices.

Cai Minghan, manager at Cathay Futures in Taipei, noted that Tesla’s shift from its original self-driving system to a focus on AI earlier this year has spurred rapid advancements in self-driving software. Nonetheless, he emphasized that the self-driving technology must integrate with other systems, including automated sanitization, charging systems, and fleet management, which will require regulatory easing before autonomous taxi services can launch. He predicts that the earliest launch will still be two to three years away.