Elon Musk unveils two-door robotaxi

Elon Musk showcased a robotaxi with two gull-wing doors and no steering wheel or pedals at a splashy event on Thursday and added a robovan to the roster as Tesla’s (TSLA.O), opens new tab goal shifts from low-priced mass-market automaker to robotics manufacturer.

Musk reached the stage in a “Cybercab” which he said will go into production in 2026 and be priced less than $30,000. He said operation will cost 20 cents a mile over time and charging will be inductive, requiring no plugs.

He said the cars rely on artificial intelligence and cameras and do not need other hardware such as what robotaxi rivals use – an approach investors and analysts have flagged as challenging both from a technical and regulatory stand point.

“The autonomous future is here,” Musk said. “We have 50 fully autonomous cars here tonight. You’ll see model Ys and the Cybercab. All driverless.

Musk also showcased a larger, self-driving vehicle – called Robovan – capable of carrying up to 20 people, and showed off Tesla’s Optimus humanoid robot.

Musk’s plan is to operate a fleet of self-driving Tesla taxis that passengers can hail through an app. Individual Tesla owners will also be able to make money on the app by listing their vehicles as robotaxis.

Thursday’s event at the Warner Bros studio near Los Angeles, California, is titled “We, Robot” – an apparent nod to the “I, Robot” science-fiction short stories by American writer Isaac Asimov, but also echoes Musk’s insistence that Tesla “should be thought of as an AI robotics company” rather than an automaker.

Read more: Elon Musk hits out at Britain

Those attending included investors, stock analysts and Tesla fans.

Investors expecting concrete details on how quickly Tesla can ramp up robotaxi production, secure regulatory approval and implement a strong business plan to leapfrog rivals such as Alphabet’s (GOOGL.O), opens new tab Waymo were left disappointed.

“Everything looks cool, but not much in terms of time lines, I’m a shareholder and pretty disappointed. I think the market wanted more definitive time lines,” said Dennis Dick, equity trader at Triple D Trading. “I don’t think he said much about anything… He didn’t give much info.”

Musk said he tends to be optimistic with time frames.