Tesla Inc. (NASDAQ:TSLA) head of design Franz von Holzhausen explained the choice of gold paint on the company's recently debuted 2-seater robotaxi model called Cybercab, terming it an attempt to create a future version of a New York City yellow cab.

What Happened: "We chose the color gold and it's really a special color. It really reflects kind of a future version of the idea of a New York City Yellow Cab... we've taken that iconic yellow and created something more expressive and more up to-date. The gold is just – it feels right," Holzhausen said.

Holzhausen shared the thought behind the choice of color in a video shared by Petersen Automotive Museum. The Cybercab will be up on display at the museum until early January 2025.

The particular Cybercab on display at the museum is one among the few pre-production Cybercabs showcased by Tesla at its event on Oct. 10 at Warner Bros. Discovery Inc.'s movie studio near Los Angeles.

Why It Matters: The company unveiled its two-seater Cybercab, complete with butterfly wings that open upwards, in addition to a Robovan that can accommodate up to 20 people at the event in October.

Both vehicles are designed for autonomous driving, so they don't have pedals or steering wheels.

At the end of the official announcements by CEO Elon Musk at the event, the company opened the chance to the guests assembled to experience autonomous driving around the studio in a fleet of 19 Cybercabs and 29 autonomously operating Model Ys.

Musk then said that the Cybercab would be priced under $30,000 and use inductive charging instead of a charging plug. He also said that the vehicle would enter production "before 2027."

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Photo courtesy: Tesla