New York [US], October 12: Shares in Tesla fell roughly 8 percent in morning trading on Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup.
"The stock decline wiped more than 50 billion U.S. dollars off the electric-car maker's market value," said The Wall Street Journal (WSJ).
Tesla on Thursday evening revealed a two-seat vehicle, called Cybercab, without a steering wheel or pedals at a tightly choreographed product launch in Los Angeles.
Elon Musk, Tesla's chief executive, arrived at the presentation in the driverless car, which piloted itself through a dark lot at Warner Bros. studios with the billionaire entrepreneur in the passenger seat.
The electric-car pioneer also surprised attendees with the reveal of a Robovan, an autonomous shuttle that can transport up to 20 people at a time. Optimus robots mingled with guests, and Musk talked about plans for a new battery-charging technology that would use an inductive method, where the car would only have to drive over a pad to recharge.
Source: Xinhua