Tesla, Inc. (NASDAQ:TSLA) is moving further into the autonomous-driving market as it has started offering robotaxi rides using its Cybercab. The company hosted a Cybercab launch event in Austin on September 3.
Following the event, Goldman Sachs maintained a Neutral rating on Tesla, Inc. (NASDAQ:TSLA). The bank has a 12-month price target of $360 on the stock. The firm sees an illustrative upside scenario of about $500 and a downside scenario of roughly $150.
Goldman Sachs said the Cybercab could give the company a cost advantage in the autonomous-vehicle market. However, the firm believes the company's ability to scale its robotaxi business will depend more on software performance than on the cost of manufacturing the vehicle.
Tesla, Inc. (NASDAQ:TSLA) said it has completed 1 million miles of unsupervised robotaxi operations. The company is also looking for operators interested in owning Cybercab fleets, running hubs and related infrastructure, or hosting robotaxi events.
Goldman Sachs highlighted the company's focus on developing a low-cost autonomous vehicle. The company's unboxed manufacturing approach and camera-only sensor system could help improve the economics of its robotaxi business. According to Goldman estimates, if Tesla, Inc. (NASDAQ:TSLA) can achieve its targeted Cybercab cost of $20,000 to $30,000 at scale, it could have a potential $0.05 to $0.30 per-mile cost advantage over autonomous-vehicle competitors with upfront vehicle costs of $50,000 to $100,000.
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Following the event, Goldman Sachs maintained a Neutral rating on Tesla, Inc. (NASDAQ:TSLA). The bank has a 12-month price target of $360 on the stock. The firm sees an illustrative upside scenario of about $500 and a downside scenario of roughly $150.
Goldman Sachs said the Cybercab could give the company a cost advantage in the autonomous-vehicle market. However, the firm believes the company's ability to scale its robotaxi business will depend more on software performance than on the cost of manufacturing the vehicle.
Tesla, Inc. (NASDAQ:TSLA) said it has completed 1 million miles of unsupervised robotaxi operations. The company is also looking for operators interested in owning Cybercab fleets, running hubs and related infrastructure, or hosting robotaxi events.
Goldman Sachs highlighted the company's focus on developing a low-cost autonomous vehicle. The company's unboxed manufacturing approach and camera-only sensor system could help improve the economics of its robotaxi business. According to Goldman estimates, if Tesla, Inc. (NASDAQ:TSLA) can achieve its targeted Cybercab cost of $20,000 to $30,000 at scale, it could have a potential $0.05 to $0.30 per-mile cost advantage over autonomous-vehicle competitors with upfront vehicle costs of $50,000 to $100,000.
#sachs
3 hours ago
