Tesla Inc. (NASDAQ:TSLA) has begun ramping up production of the Cybercab, in line with CEO Elon Musk‘s original production timeline for the driverless vehicle.
Cybercab In Production
In a video shared on the social media platform X on Thursday, Musk showcased the Cybercab being driven around and out of the Tesla Gigafactory in Texas.
The video shows the Cybercab’s interiors, with a single big screen in the middle and no steering wheel or pedals in sight. “Cybercab has started production,” the billionaire said in the post.
Elon Musk Confirms No Autonomy For HW3
Musk, during Tesla’s first-quarter earnings call this week, shared that cars equipped with the Hardware 3 (HW3) chipset would be unable to achieve Unsupervised Full Self-Driving (FSD). However, Musk had shared that Tesla could offer to change the HW3 cars' chips to HW4 and upgrade the cameras, suggesting the automaker may have to set up mini factories in cities to do so.
Tesla Model S And X End Production
Investor Ross Gerber of Gerber Kawasaki slammed Tesla’s decision to end the production of the premium Model S and Model X vehicles. Gerber called the Model S “the best EV ever made,” calling the decision to shift focus towards humanoid robots counterproductive.
The pivot was coincided by Musk sharing that the Optimus V3 humanoid robot would enter production at Fremont, California, but acknowledged that Tesla could reveal the robot closer to its production timeline of July-August this year, accusing rivals of copying Tesla’s technology.
According to Benzinga Edge Rankings, Tesla offers satisfactory Momentum, but poor Value. It also fails to provide a favorable price trend in the Long term.
Price Action: TSLA declined 2.89% to $376.30 during pre-market trading on Friday.
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Photo courtesy: Frederic Legrand – COMEO from Shutterstock
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