Tesla Analyst Sets The Stage For 'Game Changing' Robotaxi Event, Anticipates 'Seminal And Historical Day For Musk And Tesla'

Wedbush analyst Dan Ives is out with a new note laying the groundwork for Tesla Inc’s TSLA highly anticipated robotaxi event , expected to introduce new “game changing” technology . What To Know: Ives released a new note to clients late Monday, reiterating Tesla with an Outperform rating and price target of $300 ahead of the EV company’s long-awaited “We, Robot” event set for Oct. 10.

“We believe Robotaxi Day will be seminal and historical day for Musk and Tesla and marks a new chapter of growth around autonomous, FSD, and AI future at Tesla,” Ives said in a note to clients. The Wedbush analyst anticipated several “game changing” updates and details surrounding Tesla’s robotaxi platform, rumored to be called the “Cybercab.” Ives laid out expectations for updates on scaling the Cybercab, overall costs per mile, a potential ride-share app and a first-gen demonstration.



Given the anticipation surrounding the event, Ives expects CEO Elon Musk to address near-term investor concerns related to the robotaxi and explain the company’s longer-term vision for the technology. Check This Out: Tesla EV Fire In Garage Goes Viral During Hurricane Helene, While Cybertruck Owners Engage Wade Mode Tesla is also likely to focus on recent breakthroughs with its full self-driving (FSD) software and AI initiatives. Tesla’s FSD has now logged over 1.

5 billion miles in Tesla’s datacenters and the company’s latest FSD release has been deemed a significant upgrade over its predecessor, Ives said. FSD 13 is expected to be released before the end of the year. The Wedbush analyst will be watching for any updates on the next release, which is expected to introduce new features like autonomous parking and reversing capabilities and offer a 6x improvement in miles-per-intervention.

Ives also noted Tesla’s Optimus bot continues to pique interest. Tesla is currently targeting sales of its humanoid robots by 2026. The analyst anticipates updates on Optimus development at next week’s robotaxi event.

“We believe this is a pivotal time for Tesla as the company prepares to release its years of Robotaxi R&D shadowed behind the curtains, while Musk & Co. lay out the company's vision for the future,” Ives said. “We remain confident in the Tesla story which has proven successful many times over the years, and we look forward to this long-awaited event as the next evolution of transportation unfolds.

” TSLA Price Action: Tesla shares are up approximately 22% over the past month. The stock closed Tuesday up 0.45% at $261.

63, according to Benzinga Pro . Read Next: Tesla Cybertruck Starts Receiving Highly Anticipated FSD Software Photo: Courtesy of Tesla. © 2024 Benzinga.

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