Tesla robotaxi event did ‘little to reassure’ HSBC commercial success ‘imminent’

HSBC said that “as exciting as the We, Robot event was for attendees,” where Tesla unveiled its “Cybercab”, a robotaxi without steering wheel and pedals,” the firm sees questions remaining in terms of regulatory approval, homologation timing, production readiness and the source of capital. The firm, which argues that last night’s event “did little to reassure us that commercial success is imminent,” maintains a Reduce rating and $124 price target on Tesla shares.