Uber stock jumps, Tesla stumbles after Elon Musk’s Cybercab reveal

Tesla’s big technology showcase appears to have missed the mark after an underwhelming series of announcements and reveals at the company’s Oct. 10 “We, Robot” event in Hollywood, California. 

The company’s stocks have taken a nearly 8% hit in the wake of the event while rival Uber’s are up by almost 9% at the time of writing. 

Related: Musk’s robotaxi reveal could be make-or-break moment for Tesla

Autonomous vehicles and the “Optimus” humanoid robot were at the center of the event that saw the reveal of two new Tesla prototypes: “Cybercab” and “Cybervan.” The vehicles were shown off without steering wheels or other means of human control. 

Unfortunately, Tesla CEO Elon Musk gave no indication during the event that Tesla has managed to develop the underlying technology necessary to support fully autonomous driving. 

Instead, as Cointelegraph reported, he repeated the same rhetoric he’s issued for years concerning the safety and economic viability of owning a fully autonomous vehicle without describing or showcasing any progress toward machine autonomy.

Cybercab and Cybervan

The two major reveals during the event were the long-anticipated robotaxi, dubbed “Cybercab,” and another purportedly autonomous vehicle aptly dubbed “Cyberbus.”

According to Musk, Cybercab will cost less than $30,000 and will launch within the next two years. He positioned the vehicle as a safer form of transportation that will relieve traffic congestion, save lives, and allow anyone who owns one to participate in a future autonomous ride-sharing economy. 

Cybervan, another vehicle in the style of Cybercab and Cybertruck — highlighted by their resemblance to a video game asset without a “skin” add-on — was also introduced. The autonomous people carrier will purportedly carry up to 20 passengers. The company gave no timeframe for its launch.

According to Musk, however, fully autonomous driving will finally roll out for current Tesla owners with the Full Self Driving software package and subscription in 2025, but only in Texas and California. 

Both states already allow autonomous vehicle testing in specific areas. It’s unclear whether Tesla has been given additional permission to operate its products fully autonomously statewide in either state or if the company is simply joining the existing pilot programs.

Optimus and autonomy

Tesla’s Optimus was, ultimately, the star of the show. The company brought several humanoid robots to the event and some interacted with attendees. Some played games of “rock, paper, scissors,” others held conversations and a cadre of five robots performed a choreographed dance routine inside a glass dome. 

The demonstrations seemingly impressed the crowd but, based on the technology displayed throughout the event, Tesla didn’t appear to demonstrate any progress in the fields of robotics, autonomous vehicles, or artificial intelligence. 

The AI industry has seen numerous examples of rudimentary robots able to hold conversations and conduct humanlike interactions with people.

Hanson Robotics’ “Sophia,” for example, was capable of similar conversational abilities as far back as 2016 when it was built. And myriad videos exist showcasing Boston Dynamics’ Atlas and Spot robots performing choreographed displays of speed, power, agility, and entertainment. 

Ultimately, Musk promised a future where Optimus would operate as a “friend,” who helped out with day-to-day life:

“It can be a teacher, babysit your kids. It can walk your dog, mow your lawn, get the groceries, just be your friend, serve drinks. Whatever you can think of, it will do.”

But Tesla gave no details on how or when this would be achieved. Nor has the company addressed the regulatory challenges or safety concerns involved with producing a consumer robotics device capable of acting autonomously. 

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