Tesla Targets April Launch of Fully Autonomous Cybercab with 10-Second Build Rate
Tesla plans to begin production of its fully autonomous Cybercab without pedals or steering in April, CEO Musk says, but anticipates early delays installing new assembly infrastructure aimed at a 10-second-per-unit build rate. Shares at $412.20 hit a 10-week low, down 1.3%, with consensus Hold and $396.80 price target.
1. Production Plans and Timeline
Tesla CEO Elon Musk reaffirmed that the fully autonomous Cybercab, designed without pedals or a steering wheel, will enter production in April. The company warned of initial delays as it installs new assembly infrastructure, with a long-term target of assembling one vehicle every 10 seconds once operations scale.
2. Stock Performance and Analyst Ratings
Tesla shares opened near $412.20, marking a 1.3% decline and a 10-week low, reflecting investor concerns over regulatory approvals and execution risks. Wall Street maintains a consensus Hold rating with an average 12-month price target of $396.80, suggesting limited near-term upside.