### Tesla Stock Drops 8% After Unimpressive Robotaxi Debut

Tesla experienced a significant 8% decline in its stock value on Friday, disappointing investors with its highly-anticipated robotaxi event. The electric vehicle manufacturer showcased its new Cybercab, a sleek, silver two-seater that forgoes traditional steering wheels and pedals, at the "We, Robot" event in Burbank, California.

Under the direction of CEO Elon Musk, Tesla revealed plans to commence production of the fully autonomous Cybercab by 2027. The vehicle is expected to be offered to the public at a price under $30,000. However, Musk's failure to provide detailed information on manufacturing locations or precise timelines has fueled investor doubt.

"Investors were expecting detailed roadmaps and near-term opportunities, but the event prioritized Musk's long-term vision of a fully autonomous future," commented analysts at Barclays. "The lack of concrete plans raises questions about execution and scalability."

Additionally, Musk discussed future expectations for "unsupervised Full Self-Driving (FSD)" capabilities for current Model 3 and Model Y vehicles in Texas and California by next year. At present, Tesla's FSD system requires driver supervision, necessitating alert and active engagement in case manual control is needed.

The stock market responded quickly to these announcements, with Tesla shares plummeting to around $0.40, marking a decline of over 11% for the year. This sharp drop highlights investor concerns regarding Tesla's strategic focus and the feasibility of its ambitious targets in the face of intensifying competition in the electric vehicle and autonomous driving markets.