Tesla Unveils Its Cybercab, Robovan, and More—What You Need To Know

Key Takeaways

• Tesla unveiled its highly anticipated “Cybercab” robotaxi at its “We, Robot” event Thursday. 
• The electric vehicle maker also introduced a Robovan, that can seat up to 20 passengers at a time or be used to transport goods.
• CEO Elon Musk said Tesla’s fully autonomous driving capabilities will come to Texas and California by next year with the Model 3 and Model Y, with the Cybercab in production by 2026. 
• Tesla also showcased its Optimus humanoid robot, which Musk said he believes could become “the biggest product ever, of any kind.” 

Tesla (TSLA) unveiled its highly anticipated "Cybercab" robotaxi, "Robovan," and more at the electric vehicle maker's “We, Robot” event Thursday. 

CEO Elon Musk, who rolled into the event at Warner Bros. Studios in Burbank, California in a Cybercab to demonstrate its fully autonomous capabilities, said the vehicle comes without a steering wheel or pedals, and can be charged wirelessly. 

Musk said the Cybercab will enable “individualized mass transit,” and could help bring down transit costs, among other benefits. It will become available for purchase for under $30,000, he said, describing a future in which owners could manage fleets of the vehicles. 

Tesla also revealed a larger robotaxi called a Robovan, that can seat up to 20 passengers at a time, or be used to transport goods. 

Fully Autonomous Driving in Texas and California by 2025

Musk said he expects Tesla’s fully autonomous driving capabilities will come to Texas and California by next year with the Model 3 and Model Y, with the Cybercab in production by 2026. 

Musk suggested that autonomous driving supported by artificial intelligence could also make driving 10-20 times safer, and invited attendees at the event to take rides in the Cybercab and Robovan. 

‘The Biggest Product Ever, of Any Kind’

Musk showcased Tesla’s Optimus humanoid robot as well, with some helping serve drinks, dance, and perform other functions at the event.  

Musk said he believes the humanoid robot, which will become available for between $20,000 and $30,000, could become “the biggest product ever, of any kind.” 

While a release date was not offered, the CEO has previously said Optimus already performs some "simple factory tasks" in Tesla's labs, could be expected to be in Tesla's factory by the end of 2024, and may be ready for external sale by the end of 2025.

Tesla shares were little changed in extended trading following the announcements. While Tesla shares have mostly recovered from a steep selloff in the first half of the year, they remained about 4% lower for 2024. 

For years, Musk has been saying a fully autonomous Tesla vehicle could be coming soon, and the announcements come after the event was delayed from its original date in August, adding more pressure on Tesla to impress with fresh developments worth the wait.

Tesla could provide more details about its plans along with its third-quarter financial results after the closing bell on Oct. 23.

CORRECTION—Oct. 10, 2024: This article has been corrected to reflect Tesla's fully autonomous driving capabilities are expected in Texas and California by next year.

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