Tesla (NASDAQ:TSLA) is set to host its highly anticipated “We, Robot” event, where it will showcase its vision for the Tesla robotaxi future. Analysts and investors alike are eager to hear what the company has planned for autonomous driving and self-driving vehicle technology. While a fully functional robotaxi fleet may not be ready for immediate deployment, Tesla CEO Elon Musk is expected to lay out the long-term roadmap for autonomous transportation over the next five to ten years.
What to Expect from Tesla’s Robotaxi Event
Wall Street analysts are preparing for Tesla’s event with cautious optimism. According to Adam Jonas of Morgan Stanley, Tesla is expected to demonstrate the latest iteration of its Full Self-Driving (FSD) software, along with a presentation of a fully autonomous “cybercab.” This vehicle, designed without a steering wheel or pedals, represents a key element of the Tesla robotaxi future.
Jonas believes that Tesla will take a dual approach to autonomous ridesharing: one that includes fully autonomous cybercabs and another that involves supervised FSD ridesharing, allowing current Tesla owners to participate in a rideshare network. This second option could be the game changer, enabling Tesla’s existing fleet of EVs to be integrated into a rideshare service using FSD technology.
Jonas has an Overweight rating on Tesla with a price target of $310, showing his confidence in Tesla’s ability to lead in autonomous driving.
Could Tesla Unveil a New EV Model?
While Tesla’s robotaxi ambitions will likely take center stage, other analysts expect additional announcements at the event. Deutsche Bank’s Edison Yu predicts Tesla could unveil a new, lower-cost EV alongside the cybercab. This new vehicle, sometimes referred to as “Model 2” or a smaller version of the Model 3, would come at a sub-$30,000 price point and expand Tesla’s reach to more budget-conscious consumers.
With a growing emphasis on affordability, the introduction of a lower-cost Tesla EV would further solidify Tesla’s leadership in the electric vehicle market and contribute to its future robotaxi plans. Yu maintains a Buy rating on Tesla, with a $295 price target, and is cautiously optimistic about the impact of the event.
The Road to Autonomous Driving: Challenges and Opportunities
While Tesla’s vision for a robotaxi fleet and fully autonomous driving is ambitious, some analysts, like CFRA’s Garrett Nelson, remain skeptical about the timeline. Nelson believes the Tesla robotaxi future could still be several years away, with significant technological hurdles, safety tests, and regulatory approvals standing in the way.
According to Nelson, although Tesla is making progress with its FSD technology, the company has not yet achieved the full level of autonomy required to perform all safety-critical driving functions and monitor road conditions throughout an entire trip. Despite these challenges, Nelson sees Tesla’s long-term potential in autonomous driving and maintains a Hold rating on the stock with a $240 price target.
The Long-Term Vision for Tesla
One of the most bullish voices regarding Tesla’s event is Wedbush analyst Dan Ives. Ives believes the event will provide a clear roadmap for Tesla’s future in AI, autonomous driving, and robotaxi deployment. He argues that this is a transformational moment for the company, one that could represent $1 trillion in value as Tesla shifts from being viewed solely as an electric vehicle manufacturer to a robotics and AI leader.
Ives is confident that Tesla will not only showcase the cybercab and its FSD updates but also address the current challenges facing self-driving technology. He maintains an Outperform rating on Tesla with a price target of $300, seeing the event as a pivotal point in Tesla’s future.
Conclusion: Tesla’s Vision for the Future of Mobility
As Tesla continues to develop its Full Self-Driving technology and build out its robotaxi network, the company’s long-term vision for autonomous driving is becoming clearer. The Tesla robotaxi future promises to revolutionize mobility, but there are still technological and regulatory hurdles that need to be addressed before these self-driving fleets become a reality.
With strong partnerships, an ambitious product roadmap, and a commitment to AI-driven innovation, Tesla remains well-positioned to lead the future of autonomous transportation. Investors and analysts alike are watching closely to see how Tesla’s vision unfolds, with the potential for long-term growth and significant market disruption in the coming years.
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