Tesla Shares Drop 6% After Cybercab Update Disappoints as NHTSA Probes Safety Certification
Updated
Updated · CNBC · Sep 4
Tesla Shares Drop 6% After Cybercab Update Disappoints as NHTSA Probes Safety Certification
1 articles · Updated · CNBC · Sep 4
Summary
Tesla fell 6% on Friday after its Austin Cybercab event left investors with few new details on pricing, production pace or regulatory approvals for the two-seat robotaxi.
RBC said the company offered only limited incremental disclosure, while the invite-only event was not livestreamed and Elon Musk did not appear.
NHTSA on Thursday opened an audit query into whether Tesla properly self-certified the Cybercab for public-road use and compliance with federal safety standards.
The setback adds to early execution concerns around Tesla's Austin robotaxi service, where users have reported routing errors, missed destinations and long waits, after the stock had jumped 5.4% ahead of the event.