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Tesla Cybertruck sightings increase as Giga Texas Cyber Rodeo nears
Update: The Tesla Cybertruck was spotted cruising through Gigafactory Texas, making rounds before Cyber Rodeo.
A new photo of the Tesla Cybertruck at Giga Texas has started circulating online just as the Cyber Rodeo looms closer. A recent video of Gigafactory Texas also hints that two Cybertrucks will be present during the event, along with the Roadster and Tesla Semi.
First up is one of the clearest photos of the updated Cybertruck prototype leading up to the Tesla Cyber Rodeo event. As previously noted by Teslarati, it has been quite some time since the general public had an up-close look at the Cybertruck. In January, a few leaked photos revealed some slight changes to the all-electric pickup, including refined side mirrors, a single windshield wiper, and the removal of physical door handles.
The recent picture of the Cybertruck reveals no physical door handles on the vehicle, hinting that it may be the same one in the pictures leaked earlier this year — or at least another alpha prototype. Once Tesla’s Cyber Rodeo kicks off, more details about the changes and improvements on the Cybertruck will likely be available.
During the last earnings call, Elon Musk mentioned that Tesla added some new technology to the Cybertruck. It would be interesting to see if Tesla or Musk will discuss some of the latest additions to the pickup truck during the Cyber Rodeo.
At the Q4 and Full Year 2021 earnings call, Musk also mentioned that Tesla was still figuring out the right price point for the Cybertruck, given the new technology that was introduced to it recently. Currently, Tesla accepts preorders for the Cybertruck with a fully refundable $100 deposit.
Customers won’t get to complete their configuration until production nears, hinting at some notable changes in the Cybertruck’s variants and possibly its price. Tesla removed references to the truck’s variants and their respective prices on the configuration page as well.
In a drone video by Joe Tegtmeyer, a few cars were seen wrapped at Giga Texas, including what appeared to be two Cybertrucks. The unique shape of the Cybertruck gave them away, despite them being wrapped.
It has been a minute since the public has seen one Cybertruck, and seeing two at the same location is quite intriguing. Some have speculated that one Cybertruck looked bigger than the other, although it could just be the angle of the photo. However, Elon Musk has talked about developing a smaller Cybertruck in the past. A photo of Joe Rogan standing next to a Cybertruck also hinted that it was smaller than the one people rode during the vehicle’s 2019 debut.
Tesla Cyber Rodeo will likely answer some questions about the updates to the Cybertruck. While the focus will still be on Giga Texas and its grand opening, Tesla may surprise guests with interesting tidbits about its vehicle lineup. After all, Cyber Rodeo marks the beginning of another chapter in Tesla’s journey, as the company officially welcomes guests to its new headquarters.
Watch the video below for the latest on Tesla Giga Texas!
The Teslarati team would appreciate hearing from you. If you have any tips, reach out to me at maria@teslarati.com or via Twitter @Writer_01001101.
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Wedbush’s Dan Ives sees ‘monster year’ ahead for Tesla amid AI push
In a post on X, the analyst stated that the electric vehicle maker could hit a $3 trillion market cap by the end of 2026 in a bullish scenario.
Wedbush analyst Dan Ives is doubling down on Tesla’s (NASDAQ:TSLA) long-term upside. In a post on X, the analyst stated that the electric vehicle maker could hit a $3 trillion market cap by the end of 2026 in a bullish scenario, thanks to the company’s efforts to develop and push its artificial intelligence programs.
An aggressive valuation upside
Ives, Wedbush’s global head of tech research, stated in his post that Tesla is entering a pivotal period as its autonomy and robotics ambitions move closer to commercialization. He expects Tesla’s market cap to reach $2 trillion in 2026, representing roughly 33% upside from current levels, with a bull case up to a $3 trillion market cap by year-end.
Overall, Ives noted that 2026 could become a “monster year” for TSLA. “Heading into 2026, this marks a monster year ahead for Tesla/Musk as the autonomous and robotics chapter begins. We believe Tesla hits a $2 trillion market cap in 2026 and in a bull case scenario $3 trillion by end of 2026… as the AI chapter takes hold at TSLA,” the analyst wrote.
Ives also reiterated his “Outperform” rating on TSLA stock, as well as his $600 per share price target.
Unsupervised Full-Self Driving tests
Fueling optimism is Tesla’s recent autonomous vehicle testing in Austin, Texas. Over the weekend, at least two Tesla Model Ys were spotted driving on public roads without a safety monitor or any other occupants. CEO Elon Musk later confirmed the footage of one of the vehicles on X, writing in a post that “testing is underway with no occupant in the car.”
It remains unclear whether the vehicle was supported by chase cars or remote monitoring, and Tesla has not disclosed how many vehicles are involved. That being said, Elon Musk stated a week ago that Tesla would be removing its Safety Monitors from its vehicles “within the next three weeks.” Based on the driverless vehicles’ sightings so far, it appears that Musk’s estimate may be right on the mark, at least for now.
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Production-ready Tesla Cybercab hits showroom floor in San Jose
Tesla has implemented subtle but significant updates to both the Cybercab’s exterior and interior elements.
Tesla has showcased what appears to be a near-production-ready Cybercab at its Santana Row showroom in San Jose, California, giving visitors the closest look yet at the autonomous two-seater’s refined design.
Based on photos of the near-production-ready vehicle, the electric vehicle maker has implemented subtle but significant updates to both the Cybercab’s exterior and interior elements, making the vehicle look more polished and seemingly more comfortable than its prototypes from last year.
Exterior and interior refinements
The updated Cybercab, whose photos were initially shared by Tesla advocate Nic Cruz Patane, now features a new frameless window design, an extended bottom splitter on the front bumper, and a slightly updated rear hatch. It also includes a production-spec front lightbar with integrated headlights, new wheel covers, and a license plate bracket.
Notably, the vehicle now has two windshield wipers instead of the prototype’s single unit, along with powered door struts, seemingly for smoother opening of its butterfly doors. Inside, the Cybercab now sports what appears to be a redesigned dash and door panels, updated carpet material, and slightly refined seat cushions with new center cupholders. Its legroom seems to have gotten slightly larger as well.
Cybercab sightings
Sightings of the updated Cybercab have been abundant in recent months. At the end of October, the Tesla AI team teased some of the autonomous two-seater’s updates after it showed a photo of the vehicle being driven through an In-N-Out drive-through by employees in Halloween costumes. The photos of the Cybercab were fun, but they were significant, with longtime Tesla watchers noting that the company has a tradition of driving its prototypes through the fast food chain’s drive-throughs.
Even at the time, Tesla enthusiasts noticed that the Cybercab had received some design changes, such as segmented DRLs and headlamps, actual turn signals, and a splitter that’s a lot sharper. Larger door openings, which now seem to have been teasing the vehicle’s updated cabin, were also observed at the time.
Investor's Corner
Tesla analyst realizes one big thing about the stock: deliveries are losing importance
Tesla analyst Dan Levy of Barclays realized one big thing about the stock moving into 2026: vehicle deliveries are losing importance.
As a new era of Tesla seems to be on the horizon, the concern about vehicle deliveries and annual growth seems to be fading, at least according to many investors.
Even CEO Elon Musk has implied at times that the automotive side, as a whole, will only make up a small percentage of Tesla’s total valuation, as Optimus and AI begin to shine with importance.
He said in April:
“The future of the company is fundamentally based on large-scale autonomous cars and large-scale and large volume, vast numbers of autonomous humanoid robots.”
Almost all of Tesla’s value long-term will be from AI & robots, both vehicle & humanoid
— Elon Musk (@elonmusk) September 11, 2023
Levy wrote in a note to investors that Tesla’s Q4 delivery figures “likely won’t matter for the stock.” Barclays said in the note that it expects deliveries to be “soft” for the quarter.
In years past, Tesla analysts, investors, and fans were focused on automotive growth.
Cars were truly the biggest thing the stock had to offer: Tesla was a growing automotive company with a lot of prowess in AI and software, but deliveries held the most impact, along with vehicle pricing. These types of things had huge impacts on the stock years ago.
In fact, several large swings occurred because of Tesla either beating or missing delivery estimates:
- January 3, 2022: +13.53%, record deliveries at the time
- January 3, 2023: -12.24%, missed deliveries
- July 2, 2024: +10.20%, beat delivery expectations
- October 3, 2022: -8.61%, sharp miss due to Shanghai factory shutdown
- July 2, 2020: +7.95%, topped low COVID-era expectations with sizeable beat on deliveries
It has become more apparent over the past few quarters that delivery estimates have significantly less focus from investors, who are instead looking for progress in AI, Optimus, Cybercab, and other projects.
These things are the future of the company, and although Tesla will always sell cars, the stock is more impacted by the software the vehicle is running, and not necessarily the vehicle itself.
Wedbush’s Dan Ives sees ‘monster year’ ahead for Tesla amid AI push
Production-ready Tesla Cybercab hits showroom floor in San Jose
