Tesla’s (NASDAQ: TSLA) highly anticipated robotaxi event, billed as a game-changing moment for autonomous transportation, has left critics and fans alike scratching their heads. Despite the company’s reputation for innovation and pushing the boundaries of electric vehicles, the event felt like a rehash of old promises without any concrete advancements, leaving a notable void in specifics about the product.

Tesla CEO Elon Musk has long promoted robotaxis as a key component of his vision for the future. The event was expected to showcase a breakthrough in autonomous technology that could revolutionize urban transportation.

However, for many, the presentation was a massive letdown. Kevin Melnuk, a Tesla enthusiast, posted on social media, “Sorry, but that was the worst event in Tesla history… Zero details, zero actual timeline. I learned nothing today. I heard this same stuff 8 years ago.”

His frustration was echoed by others across social media, who noted the lack of practical information about the robotaxi system.

While the event featured a sleek new prototype—the Cybercab—it failed to provide answers to basic questions. As Melnuk pointed out, Musk neglected to share details such as the number of seats, cost of production, or even essential information about the vehicle’s functionality, like how it would interact with Tesla’s Full Self-Driving software.

The only real highlight of the evening, according to some attendees, was a brief performance by Tesla’s humanoid robot, Optimus, which did little to address the concerns about the autonomous vehicle program.

The Growing Chorus of Criticism

Many observers have become increasingly skeptical of Tesla’s ability to deliver on its ambitious promises. Kyle Vogt, CEO of autonomous vehicle company Cruise, which has successfully deployed robotaxis in several cities, weighed in on the Tesla event.

“I truly hope they get robotaxis working,” Vogt said. “Autonomy is the fastest and most effective way to eliminate car accidents, and we desperately need this.”

Yet, Vogt went on to offer a detailed list of challenges that Tesla’s robotaxi program would need to address to be viable. His list included essential components for a functioning autonomous vehicle fleet, ranging from remote operator capabilities to managing emergency situations and sensor cleaning systems.

Vogt’s critique, though measured, raised serious questions about Tesla’s preparedness for the robotaxi market. Unlike his company’s detailed, cautious rollout, Tesla’s approach appeared to skip over fundamental safety and legal concerns.

For instance, there was no mention during the event of how Tesla’s robotaxis would handle complex urban challenges like detecting minor collisions or complying with local traffic regulations. Vogt summed up the sentiment shared by many in the industry when he said, “Tesla will undoubtedly solve all of these eventually. Have they done it yet? Who knows.”

One reason for the skepticism surrounding Tesla’s latest robotaxi event is the company’s history of overpromising on autonomy. Musk first hinted at fully autonomous vehicles as early as 2014, promising robotaxis that would require no driver intervention by 2020.

Yet, four years past that deadline, Tesla’s Full Self-Driving software still operates at Level 2 autonomy, which means it requires active human supervision—a far cry from the hands-free, fully autonomous experience the company has been teasing.

As X user JerryRigEverything pointed out, “Any journalist or YouTuber who covers this event without disclaiming that Elon’s been making the same fruitless autonomy claims for a decade now isn’t doing their job.” Musk’s bold proclamations have often not matched the reality of Tesla’s technological capabilities, leaving some to question whether the robotaxi project is more a PR exercise than a serious business plan.

The Response

The response from investors was swift and severe. Following the event, Tesla’s stock dropped by 8.8%, while Uber, a competitor in the ride-hailing space, saw its stock rise by 10.8%. The contrasting market reactions highlight the widening gap between Tesla’s promises and the market’s perception of its ability to deliver.

X user @esjesjesj, a self-proclaimed “Elon-obsessed”, expressed his doubts, posting, “Elon has been growing desperate after the catastrophic launch of the Cybertruck and slowing Tesla growth, so he’s throwing a Hail Mary with his plans for robotaxis.”

Tesla’s robotaxi ambitions were once seen as a potential Uber killer, but with each passing year of delays, that future looks more uncertain. Critics have pointed out that while Uber and other competitors continue to refine their business models and autonomous technologies, Tesla seems stuck in a cycle of overhyping unproven technology.

Despite the backlash, Musk continued to express confidence in Tesla’s autonomous ambitions. During the event, he promised that the Cybercab would be built before 2027 and that it would cost less than $30,000—a tantalizingly low price for a fully autonomous vehicle.

Yet, the lack of concrete timelines or technical details has left many wondering if Tesla can realistically meet these goals. As Washington Post reporter Faiz Siddiqui commented during the event, “Tesla: The Cybercab will cost less than $30k and be built before 2027… Also Tesla:” followed by an image mocking the company’s long history of unfulfilled promises.

What remains clear is that the Tesla robotaxi saga is far from over. Whether the company can finally turn its vision into a reality, or whether it will continue to lag behind competitors like Cruise, remains to be seen. For now, however, Tesla’s robotaxi event will likely be remembered more for what it didn’t say than what it did.

Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.