Tesla has unveiled a car that Elon Musk, the company’s chief executive, said will be able to drive itself without human supervision. Mr. Musk has said the vehicle will add trillions of dollars to the company’s stock market value and fuel its growth. The “robotaxi,” which Mr. Musk also referred to as a “cybercab,” will cost less than $30,000 and be available before 2027, he said. He acknowledged, “I tend to be a little optimistic.”
Investors, who had high expectations for the presentation, were disappointed by that timeline and the lack of details about the company’s plans. Tesla’s share price was down about 8 percent on Friday afternoon. The product, which does not have a steering wheel or pedals, is a prototype of a self-driving taxi that Mr. Musk has staked Tesla’s future on.
Analysts say it will probably be years before those companies or Tesla is running a profitable taxi service in many urban areas. And even then such services will need sizable teams of engineers, mechanics, cleaners and others to operate.