Introducing his "Cybercab" robotaxi, Elon Musk

Elon Musk, the CEO of Tesla, unveiled his vision of a "fun, exciting future" on Thursday. He described it as a "age of abundance" that would include his company's self-driving cars without steering wheels, parking lots transformed into parks, and robots that would walk among people. Musk reiterated that these vehicles would be available in a few years. 

These ideas, along with the unveiling of his robotaxis's designs, took place during a glamorous event in California that was packed with the kind of excitement that has helped Tesla develop a devoted following for its electric cars. Models of the robotaxi and a Robovan—a driverless vehicle intended to transport a bigger group of people—were on display at the event. 

The designs heavily emphasized a futuristic, glossy, metallic sci-fi look. Musk even made a reference to the iconic science fiction picture "Blade Runner," but he claimed he wants his vision of the future to be more optimistic than that apocalyptic noir. 

Musk is well known for setting short-term goals that will take years or more to accomplish. Five years ago, he had said that his fleet of robotaxis would be ready in a year. Even he acknowledged, in his late Thursday presentation at the Warner Bros. studio lot: "I tend to be a little optimistic with time frames." 

Investors seemed disappointed, or at least skeptical, considering the company's history of missing deadlines for fully autonomous vehicles. Late Friday afternoon trading saw a more than 8% decline in Tesla (TSLA) shares. 

On his social media platform X, the event introducing these products was livestreamed to millions of people, yet it started 53 minutes late. 

The audience waiting in person to get a ride in the 50 self-driving cars that were roving the studio lot, however, didn't seem to care much about the delay. Throughout Musk's rather brief 20-minute address, they kept applauding. 

Full Self-Driving, or FSD, is a feature that Tesla has long provided on its vehicles and is now priced at $8,000. Nevertheless, Tesla claims that even in FSD mode, drivers must remain in the driver's seat, prepared to take over the wheel. 

The audience waiting in person to get a ride in the 50 self-driving cars that were roving the studio lot, however, didn't seem to care much about the delay. Throughout Musk's rather brief 20-minute address, they kept applauding. 

Musk predicted on Thursday that by the end of the year, Teslas with FSD would be able to function anywhere state regulators permit without the need for human intervention, including California and Texas. Additionally, he introduced the Cybercab, an automobile without a steering wheel, accelerator, or brake pedals that is intended to transport people without a driver present. He stated that the vehicle should be in production by 2026. 

“It’ll be like sitting in a comfortable little lounge,” he said. “Yeah, it’s going to be awesome.” 

According to him, the Robocab would be charged by passing over a charging plate rather than using a socket like other electric cars do. Additionally, he demonstrated a larger vehicle he termed a "Robovan" that he claimed could accommodate up to 20 people or cargo, however he did not specify when it would be introduced. 

In addition to offering trips in its own fleet of self-driving robotaxis, Musk said that Tesla's robotaxis would reduce the cost of ownership for Tesla customers by enabling them to utilize Tesla's service to book rides when they aren't driving.