Elon Musk’s EV Empire Unveils Cybercabs and Robovans. Now What?

Highly-anticipated Robotaxi event offered a glimpse into what Elon Musk touted as “the future” — a driverless almond-shaped Cybercab robotaxi with no steering wheel or pedals and a Robovan that can ferry up to 20 people (but looks like a giant sliding toaster). Both are futuristic and flashy. But can they generate revenue and keep Tesla churning out profits?

Tesla is introducing a new era. Years after it had released a new product (the Cybertruck in 2019), the electric-vehicle maker, towering over the EV space, is expanding its product suite with not one but two new sick wheels. Rolling up to the stage in one of them — a robotaxi called “Cybercab” — Elon Musk, Tesla’s chief executive, unveiled the driverless two-seater cab and an autonomous van conveniently called Robovan.

Tesla’s market worth may skyrocket 40 times but it won’t be today. The neon-filled scene giving futuristic vibes and Musk touting the new products as game-changers didn’t inspire investors to rush in and shove their cash into Tesla shares.