Tesla Inc (NASDAQ:TSLA) is hosting its highly anticipated Robotaxi event on Thursday, where investors hope CEO Elon Musk will shed more light on the company's full self-driving software and Robotaxi plans.
While some analysts are very bullish on Tesla's Robotaxi segment, one renowned Apple analyst is cautious, predicting Tesla's self-driving is still years away from mass production.
Keep Reading: Tesla Robotaxi Day Preview: Move Over Autonomous Vehicles, Analyst Says This 'Positive Catalyst' Could Be More Important
What Happened: Ming-Chi Kuo, an analyst at TF International Securities, tweeted Wednesday morning that mass production of Tesla's Robotaxi may not come until 2027.
1. Some market participants are optimistic about Tesla's robotaxi event on October 10. However, my latest supply chain survey indicates that Tesla's robotaxi (aka Cybercab) may enter mass production in 1Q27. Because mass production is still some time away, expectations for a...
— 郭明錤 (Ming-Chi Kuo) (@mingchikuo) October 9, 2024
"However, my latest supply chain survey indicates that Tesla's robotaxi (aka Cybercab) may enter mass production in 1Q27," Kuo wrote. "Because mass production is still some time away, expectations for a significant rally in $TSLA following the event may be overly optimistic."
TSLA Price Action: Tesla's stock allied before the event, trading up more than 10% in the past month. Despite the recent move to the upside, Tesla's stock is still underperforming the overall market on the year, with Tesla shares down around 1.3% YTD while the S&P 500 Index is up nearly 22% YTD.
Kuo speculated that while Tesla already had all the hardware designs and manufacturing capabilities, the company might run into some roadblocks concerning regulation for its Robotaxi business, potentially pushing back mass production until 2027.
Read Also: Tesla's Party Could Be Crashed By Baidu As Chinese Rival Considers Global Robotaxi Expansion
Photo: Tesla FSD. Photo via Shutterstock
