Tesla's Latest: 'Fall Asleep and Wake Up at Your Destination'

It doesn't have a steering wheel or pedals, but Elon Musk has "staked Tesla's future" on his company's new Cybercab, unveiled Thursday evening at a Warner Bros. studio in Hollywood. The company's CEO vowed that the self-driving two-seater "robotaxi," which the New York Times notes "appeared to be made of stainless steel," will be able to transport passengers to where they need to go without the need for human intervention. "You can fall asleep and wake up at your destination," Musk said at the event, per the AP. "It's going to be a glorious future."

• Timeline: Musk first said the Cybercabs, which will reportedly sell for less than $30,000, would be available by 2026, though he then changed that to "before 2027," per the AP. Even those enthusiastic about Musk's plans acknowledge it's going to take some time before people are riding around in Tesla robotaxis. The concept "represents a potential paradigm shift in the transportation industry, but it's not going to happen overnight," says Karl Brauer, executive analyst at iSeeCars.

• The potential: Advocates say the Cybercab could be a "game changer," even giving consumers the opportunity to make some extra cash by transporting passengers—"the automotive equivalent of listing a home on Airbnb," per the Times. "If this technology works well, it will completely change personal car ownership and mobility," says Shay Natarajan, a partner at Mobility Impact Partners.
• Issues: The Times cites the lawsuits that Tesla is already facing over its autonomous fleet, after a slew of accidents involving its vehicles. A test drive of a Tesla Model 3 supposedly equipped to fully self-drive showed "that the company still has work to do," the paper notes, pointing out the various instances when accidents and illegal moves were prevented only when the human driver inside the car intervened. Others also aren't sure the robotaxi will deliver the profits that Musk is anticipating.
• Investors: They wanted more details after Thursday's event "on how the company plans to transform from an automaker into an autonomous driving and artificial intelligence titan with a solid business plan," per Reuters. "His vision is lovely, but somebody has to actualize it," one shareholder said of Musk's plan. CNBC notes that Tesla shares dipped 5.7% in premarket trading on Friday morning.
• Also seen: The unveiling also featured a self-driving "robovan" capable of carrying 20 passengers, as well as a small army of the company's Optimus robots, which danced and mixed drinks for attendees. "I think this will be the biggest product ever, of any kind," Musk said of the robots, which he estimated would sell for up to $30,000, per Reuters.

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