Tesla Robotaxi expectations are 'relatively muted': Canaccord

10/04/2024 09:16 AM

Canaccord Genuity analysts claim that their expectations for Tesla’s Robotaxi event are “relatively muted going in.”

Tesla is expected to unveil its highly-anticipated robotaxi vehicle on October 10, 2024. Many TSLA analysts have shared their expectations for the Tesla Robotaxi event. Canaccord analysts seem to be on the side of the skeptics. 

“With most—including us—skeptical of near-term robotaxi availability, expectations are relatively muted going in,” said Canaccord in a recent note. 

Tesla’s robotaxi vehicle is supposed to be supported by the company’s Full Self-Driving autonomous software. As such, the Tesla robotaxi will launch without a steering wheel. Some Tesla supporters believe the company will unveil a fully autonomous vehicle during the Robotaxi event.

Others have more cautious predictions about what Tesla will reveal during the Robotaxi event. Morgan Stanley’s Adam Jonas predicts that Tesla will offer rides in a fully autonomous cybercab design and another robotaxi car with FSD Supervised and a human driver. Morgan Stanley believes most Tesla robotaxis used by 2030 will be the version using FSD Supervised.

For Canaccord, though, Tesla has already demonstrated its most significant strength in the auto industry through its Q3 2024 performance.

“The real story of Tesla’s delivery results was confirmation that the company is outperforming its fellow Western OEMs in a big way. Tesla, a Western OEM, is holding its own in a highly competitive China auto market because it has a compelling EV — and the others don’t,” said Canaccord analysts. 

Canaccord does believe in Tesla’s robo-filled future but seems more focused on the present.

“Next week, Tesla will provide a glimpse into its robo future. Always interesting, never boring.“

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