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Tesla
- Tesla introduced its autonomous Robotaxi at the “We, Robot” event on Thursday.
- Former Waymo CEO criticized Tesla for not being committed to a safe and accessible Robotaxi service.
- Some analysts on Wall Street expressed disappointment with Elon Musk’s presentation.
John Krafcik, the former CEO of Waymo, did not seem impressed by Elon Musk’s much-anticipated “We, Robot” event held recently.
Musk unveiled a series of prototype Robotaxis—referred to as Cybercabs—to an audience at Warner Bros. Discovery’s film studio in Burbank, California. He took a ride in one of these prototypes and shared that Tesla has produced at least 20 Cybercabs so far, with plans for mass production before 2027. In addition to the Robotaxi, Tesla also presented a 20-passenger Robovan and its Optimus humanoid robots.
However, Krafcik’s reaction was critical; he felt that Musk’s efforts to generate excitement around these products were lacking substance. Following the event, Tesla shares dropped by as much as 10% during early trading hours on Friday.
The competition between Waymo and Tesla intensifies as both companies strive to lead in autonomous driving technology. Although Krafcik left his position at Waymo in 2021, he remains active within the electric vehicle sector and currently serves on Rivian’s board of directors.
Tesla
Krafcik drew parallels between Musk and former President Donald Trump in comments made via email to Business Insider:
“Remember back in 2016 when Trump claimed: ‘I could stand in the middle of Fifth Avenue and shoot somebody without losing any voters’? The recent event mirrored that sentiment within the automotive industry,” Krafcik stated. He further emphasized that if a company were genuinely focused on creating a safe and accessible Robotaxi service, it would look vastly different from what was presented last night.
Krafcik pointed out potential challenges ahead for Tesla regarding mass production for public use; Phil Koopman—a safety expert specializing in autonomous vehicles—highlighted that federal approval will be necessary before they can produce vehicles devoid of traditional controls like steering wheels or pedals.
Additionally, Krafcik noted concerns about accessibility due to low seating positions which may hinder elderly passengers or those with disabilities from entering or exiting comfortably. He remarked: “Serious contenders like Waymo utilize taller vehicle designs along with elevated sensors aimed at enhancing comfort and safety—this design compromises those essential features.”
No representatives from Tesla responded when approached by Business Insider for comments regarding these critiques.
Horacio Villalobos – Corbis/Getty Images
Musk’s presentation also failed to resonate positively among some analysts from Wall Street.
An analyst representing Morgan Stanley described the occasion as “disappointing” due to insufficient details provided during his address:
“Overall we found ourselves disappointed by both substance and detail presented; consequently we expect TSLA shares may face downward pressure following this announcement,” stated their analyst publicly.
The Wedbush team acknowledged aspects they appreciated about Musk’s showcase but concurred there was an evident lack of specifics:
“This morning investors are questioning where all pertinent details are located—we agree more time should have been allocated towards elaborating this strategic vision surrounding autonomy which will likely impact share performance today.”
An additional point raised involved Musk neglecting discussions surrounding plans for an affordable EV model throughout his presentation: Gene Munster from Deepwater Asset Management mentioned via X post that an economical EV had been highlighted previously by Elon during earnings calls where he suggested production might commence late 2024 into early-mid-2025… “It seems plausible this vehicle remains partway down their roadmap slated towards late-2025 but perhaps avoided discussion fearing it could trigger delays among Model 3 buyers,” he added. .
