Tesla shares fell 6% on Friday after the Cybercab update failed to impress investors betting the company can become a major player in the U.S. robotaxi market currently dominated by Alphabet’s Waymo. The Cybercab, a bronze two-seat robotaxi with no steering wheel or pedals, has been in production since April, but Tesla provided limited new details on pricing, production cadence and regulatory approvals at its Austin event. Wells Fargo analysts said the Austin robotaxi service is facing early execution issues, with users reporting routing errors and excessive wait times. The stock decline follows a 5.4% gain on Thursday ahead of the event, and the National Highway Safety Administration has launched an audit into the Cybercab’s safety certification.
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