Tesla (TSLA) held its long-awaited robotaxi event on Thursday night, providing investors with new information about the autonomous car. CFRA analyst Garrett Nelson joins Morning Brief to talk about his reaction to the event.
“We were really disappointed by the lack of detail regarding their near-term and intermediate-term product roadmap,” Nelson shares with Yahoo Finance.
He points out that there was no mention of any improvements in Tesla’s other widely awaited vehicles, the so-called Model 2 or the Roadster.
“It was sort of like watching a movie with a lot of plot twists and special effects. And at the end, you’re walking out kind of scratching your head,” Nelson adds on the incident. After seeing the event twice to “make sense of everything,” he writes, “It was really short on detail and long on special effects.”
Why the Tesla CyberCab Launch Event Failed to Impress
Roth MKM maintains a Neutral rating and a price target of $85 for Tesla following the company’s “underwhelming” CyberCab event, which promised to launch the car at roughly $30,000 starting in 2026.
The vehicle that navigated the Warner Brothers lot where the event took place lacked a steering wheel and obvious controls, but the firm expects the Model 3 and Model Y vehicles that begin unsupervised-FSD trials in California and Texas next year to retain all of these controls, according to an analyst in a research note to investors.
The event is considered as a “disappointment” because Tesla provided “limited evidence” that unsupervised FSD is believable in an optical-only system, Roth stated.
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