The Zhitong Finance App learned that as Tesla (TSLA.US) is about to hold an autonomous taxi Cybercab launch event, this electric vehicle manufacturer with autonomous driving ambitions is once again receiving market attention.
According to the data, Tesla's stock price has risen 2.37% since this week. After a cumulative increase of more than 18% in August, outperforming many US and Chinese electric vehicle manufacturers, the stock price has now rebounded about 20% from its low at the end of July.
The launch event is approaching, and Cybercab is showing up intensively in Austin
On August 22, Tesla announced on the X platform that it will hold a Cybercab launch event on September 3, local time in Austin, Texas. This model, designed for fully driverless driving, has no steering wheel or brake pedal. It is Tesla's first Robotaxi special model. It is expected to join the Austin team and gradually change the current model of operation dominated by Model Y.
Tesla has completed a number of preparations before the official launch. Since June, Cybercab has been tested on public roads in many parts of the US, including Austin. In July, Tesla began to let employees test ride on private roads in the Austin campus and gather feedback. This is similar to the process before Robotaxi went live last year. Meanwhile, Tesla also recently trained first responders in Austin to guide them on how to handle and move vehicles in emergency situations.
As the launch event approaches, this gold-coated autonomous vehicle is appearing on the streets of Austin one after another, and related sightings are increasing at an accelerated pace. Videos shared online showed multiple Cybercabs driving or docking in downtown Austin. Patrick Moorhead, chief analyst at Moor Insights & Strategy, also said earlier that he has seen Tesla Cybercab everywhere in downtown Austin, and this is the first time he has seen a number of related vehicles comparable to Waymo vehicles. Tesla AI chief Ashok Elluswamy also shared a video of the vehicles and declared: “The streets will never be the same again.”
Tesla investor and influencer Sawyer Merritt said on the X platform that Tesla also added 38 Cybercab vehicles to the Robotaxi fleet, bringing the total number of vehicles registered with the Texas Motor Vehicle Administration to 45. Sawyer Merritt also claimed that Tesla expanded the Austin Robotaxi service area for the first time in 10 months. Its geofence (geofence) area was expanded by about 9% to 264 square miles. In comparison, Dallas is 81 square miles, Miami is 31 square miles, Orlando is 26 square miles, Houston is 25 square miles, and Tampa is 24 square miles.
The cost advantage is expected to become a “killer”
Earlier, a Tesla supporter shared an image comparing the number of cars that can be purchased for $1 million: at an estimated price of about $125,000 each, you can buy 8 Waymo vehicles; and at the estimated price of $18,000 per car, you can buy more than 50 Cybercabs.
Tesla CEO Musk also highlighted Cybercab's potential cost advantage. He also stated on X: “This doesn't even take into account Cybercab's operational efficiency.” Earlier, when an X platform user asked if Tesla was preparing a “massive influx” of Cybercab into Austin, Musk replied, “Yes.”
Musk previously said that the final cost of this two-seater vehicle, designed for autonomous driving operations, could be around $30,000. Tesla began production of some Cybercab in April and has been testing it on public roads. However, the company has yet to announce the exact schedule or full format of Thursday's event; it only advertises the event as an “Exclusive Experience: Cybercab” (Exclusive Access: Cybercab).
In fact, the cost advantage of Tesla's autonomous driving service has already been reflected. Sawyer Merritt said that judging from actual operating costs, the total cost of the four unsupervised Model Y Robotaxi trips was 8 miles; in contrast, a 20-minute Uber ride cost $33, including tips.
Voices of praise are emerging
Gerber Kawasaki CEO Ross Gerber, who has always been a Tesla critic, showed optimism this time. “The Tesla Cybercab launch event will launch on Thursday,” he said on X. That's pretty cool. I hope the launch is successful.”
Ross Gerber notes that most automakers are still far behind Tesla in software and hardware, and called the Cybercab “the first physical AI electric vehicle.” He also praised the car's appearance and said that at the same time, Tesla should produce a version “for people to buy and drive.”
Ross Gerber's optimism also extends to Tesla's fully autonomous driving (FSD) software. He said that the 14.3.8 version produced “far fewer cases of disconnection from driving control” represented a “significant improvement,” but he also cautioned that he still needed manual intervention too often.
Future Fund managing director Gary Black also praised Tesla's competitive advantage, although he also warned that the company's valuation was still too high. “Never short a great company, even if it's trading at an expensive valuation,” he said on X.
Gary Black called Tesla a “great company,” with industry-leading technology, significant manufacturing cost advantages, exposure to major long-term structural trends, and a visionary leader who can attract engineering talent. However, he pointed out that Tesla's current transaction price is about 220 times the expected earnings, and its long-term profit growth rate is expected to be 35%. He said this valuation premium “gave investors a reason not to hold it, but it gave no reason to short it.”
Wall Street remains optimistic about Tesla's share price outlook. According to SeekingAlpha, Wall Street's average price target for Tesla over the next 12 months is $390.09, and the overall consensus rating is “buy.” Of the 46 analysts covering Tesla, 16 gave a “strong buy” rating, 6 gave a “buy” rating, 19 recommended a “hold” rating, 2 gave a “sell” rating, and 3 gave a “strong sell” rating.
