Tesla presented the much-anticipated Cybercab robotaxi. According to CEO Elon Musk, the car would, hopefully, go into production by 2026 and cost less than $30,000.

Along with the Robovan, an autonomous car that can accommodate up to 20 people, Tesla also introduced "Optimus," an upgraded version of their humanoid robot. 

At its "We, Robot" event, which took place at the Warner Bros. studio outside of Los Angeles, California, Tesla revealed the details. A medical issue caused the event, which was live broadcast on X, to be delayed.

The Cybercab variant seats two people and lacks a pedal board and steering wheel. Musk has been showing off the model for over five years, but before it can be put into production, it still has to pass a number of regulatory requirements.

Musk stated that the Cybercab would probably go into production by 2026 and that Tesla will start to roll out unsupervised, fully autonomous driving in some of its existing models by 2025.

Without providing any details, Musk stated that the Cybercab's running expenses would be about 20 cents per mile and that the model would not cost more than $30,000.

The Optimus robot and the new cars will also use artificial intelligence.

With growing competition in China, the firm's biggest market, and slow sales in the West, Tesla is facing a gradual fall in sales. This is why the business is focussing on AI and autonomous driving.

In 2024, the firm may see its first-ever annual delivery decrease.

Tesla is still trailing behind businesses like Waymo and Cruise, which provide robotaxi services in a few American cities. However, there have been several traffic mishaps and even injuries associated with the services.

Regarding its promises of fully autonomous driving, Tesla is also coming under more criticism, particularly in light of a few high-profile incidents using the software.

(Sources: investing.com, reuters.com)