Tesla (TSLA.O) shares fell more than 6% intraday on Friday after its Cybercab
robotaxi update failed to meet Wall Street expectations, raising questions about
its ability to compete with Waymo in the U.S. robotaxi market. The company held
an invite-only event in Austin on Thursday with no livestream and CEO Elon Musk
absent, saying users could hail Cybercab in a limited Austin area via the Tesla
Robotaxi app. RBC said the event disclosed little new information — pricing,
production cadence and regulatory approvals remain unresolved — and Wells Fargo
called the rollout disappointing, citing early operational issues in Austin. The
U.S. National Highway Traffic Safety Administration has opened a review to
determine whether Cybercab complies with federal safety standards and has
completed required safety certification. Tesla shares had risen 5.4% the day
before the event.
