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Tesla’s Cybertruck is starting to catch the interest of industry leaders
Tesla’s Cybertruck has caught the world’s attention due to its polarizing design. While it is undeniably futuristic, the vehicle’s design is so much different from every other pickup truck on the market that it is proving to be an acquired taste. Despite this, support for the vehicle is spreading quickly. This has been teased by statements from several walks of life, from law enforcement members to titans of the gaming industry, to one of the most recognized icons in the world of sports entertainment today.
When Tesla CEO Elon Musk unveiled the Cybertruck on November 21 in Los Angeles, he said it was made to be tough. The company moved the mass of the vehicle to the outside, recognizing this design as an “exoskeleton” that will make the truck durable and long-lasting. This idea was displayed through a demonstration involving a sledgehammer and the truck’s door.
Tesla designer Franz von Holzhausen slammed the driver’s side door with the sledgehammer multiple times without doing any sort of cosmetic damage to the truck. The Cybertruck’s tough design does not fit the traditional age-old stereotype of electric vehicles being weak and underpowered — an idea that many non-electric car enthusiasts hold onto.
The unusual design choice Tesla chose for its first pickup truck, while polarizing and unusual, caught the attention of many people, including Kansas Highway Patrol member Ben Gardner, who stated he was interested in using the Cybertruck while on duty. Trooper Ben, as he is known as on Twitter, started the speculation when he tweeted “Hear me out…. #Cybertruck patrol vehicle?! #SignMeUp.” This tweet was met with renderings from a designer named Daniel Scott, who provided a render of the Cybertruck as a police vehicle.
Lets make it happen! 😀
Look out #DistractedDriver and #ImpairedDrivers ! https://t.co/PMThI02qMH
— Trooper Ben (@TrooperBenKHP) November 25, 2019
Tesla vehicles have been utilized by some police forces in the United States, including a Model S for the Fremont PD near the Tesla factory in California, and a Model 3 in Bargersville, Indiana.
Another prominent figure from another industry has requested a Cybertruck design from Elon Musk. Min-Liang Tan, CEO of Razer, a gaming hardware manufacturing company, has requested a Cybertruck themed with his company’s logo and color scheme. Tan tweeted the Tesla CEO on November 25, sending a pretty slick-looking render of the black and green Razer themed Cybertruck, along with a question regarding Tesla’s status in his home country of Singapore.
https://twitter.com/minliangtan/status/1198987366716911618
Tan’s proposed design for his custom Cybertruck even caught the attention of Musk, who liked the tweet.
Finally, one of the biggest sports icons in the world today has complimented and requested a pre-order of the Cybertruck. Ultimate Fighting Championship (UFC) superstar Conor McGregor tweeted Musk following the CEO’s announcement of 200,000 Cybertruck pre-orders. McGregor, who is known throughout the world as “The Notorious,” is known for his flashy clothing and cars. The man who regularly sports designer threads and some of the fastest sports cars in the world focused on the impressive pre-orders the truck has received. But McGregor did not stop there, as he also requested a couple of Boring Company flamethrowers in the process, too.
= 20,000,000. Nice!
Put me down for one also, please Elon. And two flamethrowers.— Conor McGregor (@TheNotoriousMMA) November 25, 2019
The man who is the first fighter in UFC history to hold championship belts at two separate weight classes is known for his flashy style both inside and outside of the Octagon, McGregor is a longtime follower of Musk on Twitter. Perhaps he is looking to add some high-performance, electric-powered vehicles to his fleet of automobiles.
Kansas Highway Patrol, the Razer CEO, and the MMA fighter are but the tip of the iceberg for notable personalities who are starting to warm up to the Tesla’s polarizing pickup truck. YouTube superstars, musicians, and social media influencers have also publicly stated that they have posted reservations for the vehicle.
As the Cybertruck nears the quarter-million pre-order mark, the truck’s unique shape and design have obviously won many people over. It seems that the Cybertruck is becoming the “cool” truck of the next decade, a truck that some of the toughest, most bleeding-edge people in the world have their sights set on. The boldness of Tesla to release the truck has caught the attention of leading figures in their respective fields, making it one of the most talked-about vehicles today.
Tesla stock (NASDAQ: TSLA) closed at an all-time high on Tuesday, jumping over 3 percent during the day and finishing at $489.88.
The price beats the previous record close, which was $479.86.
Shares have had a crazy year, dipping more than 40 percent from the start of the year. The stock then started to recover once again around late April, when its price started to climb back up from the low $200 level.
This week, Tesla started to climb toward its highest levels ever, as it was revealed on Sunday that the company was testing driverless Robotaxis in Austin. The spike in value pushed the company’s valuation to $1.63 trillion.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
It is the seventh-most valuable company on the market currently, trailing Nvidia, Apple, Alphabet (Google), Microsoft, Amazon, and Meta.
Shares closed up $14.57 today, up over 3 percent.
The stock has gone through a lot this year, as previously mentioned. Shares tumbled in Q1 due to CEO Elon Musk’s involvement with the Department of Government Efficiency (DOGE), which pulled his attention away from his companies and left a major overhang on their valuations.
However, things started to rebound halfway through the year, and as the government started to phase out the $7,500 tax credit, demand spiked as consumers tried to take advantage of it.
Q3 deliveries were the highest in company history, and Tesla responded to the loss of the tax credit with the launch of the Model 3 and Model Y Standard.
Additionally, analysts have announced high expectations this week for the company on Wall Street as Robotaxi continues to be the focus. With autonomy within Tesla’s sights, things are moving in the direction of Robotaxi being a major catalyst for growth on the Street in the coming year.
Elon Musk
Tesla needs to come through on this one Robotaxi metric, analyst says
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Tesla needs to come through on this one Robotaxi metric, Mark Delaney of Goldman Sachs says.
Tesla is in the process of rolling out its Robotaxi platform to areas outside of Austin and the California Bay Area. It has plans to launch in five additional cities, including Houston, Dallas, Miami, Las Vegas, and Phoenix.
However, the company’s expansion is not what the focus needs to be, according to Delaney. It’s the speed of deployment.
The analyst said:
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Profitability will come as the Robotaxi fleet expands. Making that money will be dependent on when Tesla can initiate rides in more areas, giving more customers access to the program.
There are some additional things that the company needs to make happen ahead of the major Robotaxi expansion, one of those things is launching driverless rides in Austin, the first city in which it launched the program.
This week, Tesla started testing driverless Robotaxi rides in Austin, as two different Model Y units were spotted with no occupants, a huge step in the company’s plans for the ride-sharing platform.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
CEO Elon Musk has been hoping to remove Safety Monitors from Robotaxis in Austin for several months, first mentioning the plan to have them out by the end of 2025 in September. He confirmed on Sunday that Tesla had officially removed vehicle occupants and started testing truly unsupervised rides.
Although Safety Monitors in Austin have been sitting in the passenger’s seat, they have still had the ability to override things in case of an emergency. After all, the ultimate goal was safety and avoiding any accidents or injuries.
Goldman Sachs reiterated its ‘Neutral’ rating and its $400 price target. Delaney said, “Tesla is making progress with its autonomous technology,” and recent developments make it evident that this is true.
Investor's Corner
Tesla gets bold Robotaxi prediction from Wall Street firm
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Tesla (NASDAQ: TSLA) received a bold Robotaxi prediction from Morgan Stanley, which anticipates a dramatic increase in the size of the company’s autonomous ride-hailing suite in the coming years.
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Percoco dug into the Robotaxi fleet and its expansion in the coming years in his latest note, released on Tuesday. The firm expects Tesla to increase the Robotaxi fleet size to 1,000 vehicles in 2026. However, that’s small-scale compared to what they expect from Tesla in a decade.
Tesla expands Robotaxi app access once again, this time on a global scale
By 2035, Morgan Stanley believes there will be one million Robotaxis on the road across multiple cities, a major jump and a considerable fleet size. We assume this means the fleet of vehicles Tesla will operate internally, and not including passenger-owned vehicles that could be added through software updates.
He also listed three specific catalysts that investors should pay attention to, as these will represent the company being on track to achieve its Robotaxi dreams:
- Opening Robotaxi to the public without a Safety Monitor. Timing is unclear, but it appears that Tesla is getting closer by the day.
- Improvement in safety metrics without the Safety Monitor. Tesla’s ability to improve its safety metrics as it scales miles driven without the Safety Monitor is imperative as it looks to scale in new states and cities in 2026.
- Cybercab start of production, targeted for April 2026. Tesla’s Cybercab is a purpose-built vehicle (no steering wheel or pedals, only two seats) that is expected to be produced through its state-of-the-art unboxed manufacturing process, offering further cost reductions and thus accelerating adoption over time.
Robotaxi stands to be one of Tesla’s most significant revenue contributors, especially as the company plans to continue expanding its ride-hailing service across the world in the coming years.
Its current deployment strategy is controlled and conservative to avoid any drastic and potentially program-ruining incidents.
So far, the program, which is active in Austin and the California Bay Area, has been widely successful.
Tesla stock closes at all-time high on heels of Robotaxi progress
Tesla needs to come through on this one Robotaxi metric, analyst says
