Tesla’s stock advanced 4.6% in morning trading, lifting shares to $373.35, after the company announced a high-profile event in Austin, Texas, where it is expected to unveil its latest autonomous vehicle model.
The Cybercab launch, described as Tesla’s most significant product milestone since the start of Cybertruck deliveries, centers on a two-seat autonomous vehicle designed without a steering wheel or pedals. The vehicle is intended for deployment as the primary driverless unit within Tesla’s expanding robotaxi network, with riders able to hail it via the Robotaxi app as early as the week following the event.
Tesla has allocated up to 5,000 units for regulatory purposes, signaling plans for rapid commercial deployment. The company’s existing robotaxi fleet has already logged more than 380,000 unsupervised miles without a notable incident, according to internal tracking.
Analysts offered mixed reactions ahead of the event. StoneX maintained a Buy rating with a $475 price target, citing the vehicle’s projected sub-$30,000 price point and its role in scaling Tesla’s autonomous ride-hailing ambitions. Morgan Stanley, however, kept a Hold rating with a $400 target, warning that the stock could face selling pressure during the unveiling.
The broader market also contributed to the upward momentum, with the S&P 500, Dow Jones, and Nasdaq all trading higher on the day.
