Tesla’s Cybercab Event Set for 5:45 PM ET
Tesla will host a Cybercab event today at 5:45 p.m. ET in Austin, unveiling details of its driverless two-seat vehicle, which features no steering wheel or pedals. The company currently has 45 Cybercabs operating in Texas, and analysts from Morgan Stanley suggest a “meaningful” increase in unsupervised vehicles could boost Tesla stock, currently down nearly 15% this year and 22% below its all-time high.
Despite boasting a supervised Full Self-Driving (FSD) system that has seen over 14.1 billion miles driven, Tesla needs to gain approval for unsupervised FSD for broader adoption. The stakes are high for Tesla, which is struggling with declining operating margins and rising expenses, as it looks to reassure investors following a disappointing earnings report.
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