On Thursday night, Tesla announced the new set of self-driving cars at their event.  The vehicles, Robotaxi and Robovan was the main gaze of the star-studded event at Warner Bros. studio Dubbed "We, Robot,". The launch had over three million people in attendance.

The billionaire reaffirmed his belief that fully self-driving cars will be safer than cars driven by people, and owners could even make money by renting their cars out for rides. “One of the things that we want to do, and we've seen this with the Cybertruck,” Musk said during the company's event. “We want to change the look of the roads. The future should look like the future.”

But investors have not been as excited as he is yet—Tesla's share price went down on Friday morning after US markets opened. The TSLA stock value fell by 8% to trade around $219.

https://www.tradingview.com/chart/?symbol=NASDAQ%3ATSLA 
Source: TradingVie

Away from the stocks, let’s look at the two new vehicles from the EV manufacturer. The Cybercab is a compact two-seater, designed without traditional controls, and would solely rely on AI and cameras. Musk believes the Robotaxi would become a viable competitor to ride-sharing services like Uber, and the price would remarkably be under $30,000.

The Robovan, which is the second vehicle announced on Thursday night, is capable of seating 20 passengers. The design, according to Elon Musk, was inspired by the Art Deco train designs of the 1920s and 30s and aims to serve both public transport and commercial needs. As with the Cybercab, it also doesn’t come with a driver’s seat and steering wheel. 

Furthermore, Musk claimed these vehicles could significantly reduce transportation costs, estimating operational expenses at just $0.20 per mile. Yet, questions remain about the market viability of such large autonomous vehicles in congested urban areas. 

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Tesla’s ambitious plans come amid declining demand for electric vehicles and increasing competition from rivals like Waymo and Cruise. Analysts warn that unless Tesla addresses these challenges quickly, its growth may stagnate before these new models can impact its bottom line. 

Musk's ideas go beyond just transportation. He wants to turn parking lots into parks where people can relax while their Cybercabs drive themselves. However, there’s the issue of the self-driving cars passing through federal safety laws.

Another major highlight on Thursday night alongside Tesla’s two Robo vehicles is the unveiling of their next-generation humanoid robot, Optimus. 

Elon Musk made a bold claim of the robot’s limitless capabilities, stating it "can do anything you think of." Besides that, he talked about how it could change everyday life by doing things like walking dogs, watching kids, mowing lawns, and serving drinks.

The event was broadcast live on X and featured the Optimus robots dancing, serving drinks, and mingling with the guests.

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