Tesla unveils Cybercab robotaxi without steering wheel; stock falls on lack of details

Tesla unveiled the Cybercab, a purpose-built autonomous robotaxi with no steering wheel or pedals, at an event in Austin, Texas. The announcement lacked specifics on production timeline, regulatory approval, and technology readiness, leading to a decline in Tesla's stock. This marks a strategic pivot toward autonomous ride-hailing, but the market's negative reaction underscores skepticism about near-term viability.