Edited images show the inside of the new Tesla Model 3 with full self-driving activated.
nurphoto | Getty Images
tesla It unveiled a new version of its fully self-driving surveillance technology Tuesday morning, but investors are looking for something bigger.
Over the weekend, Elon Musk’s company shared a teaser clip featuring spinning components that incorporate the logo, from wheel covers to fans and turbines. The clip ends with the numbers “10/7,” indicating a Tuesday release date.
Tesla posted a second clip to X on Sunday.
The stock rose 5% on Monday as buzz grew online about what the announcement would be.
The big reveal could be the long-awaited lower-cost model, or the next-generation Roadster that Musk has been promising for years.
Or something else.
The company hasn’t released a new model vehicle for sale since late 2023, when it began shipping the Cybertruck, an angled, unpainted steel pickup.
Musk originally promoted the Cybertruck at a 2019 “unveiling” event. The Cybertuck never achieved the level of popularity of Tesla’s Model 3 sedan or Model Y SUV, and has been the subject of at least eight voluntary recalls in the United States.
Tesla, which has suffered a multi-quarter slump in car sales, is turning investors’ attention to its future as a robotics and self-driving car business.
This slump resulted in part from consumer backlash against Musk, his support of far-right parties and figures, and his inflammatory political rhetoric. But it’s also due to an aging lineup and increased competition from companies including Volkswagen and BYD.
In mid-October of last year, Tesla held an invitation-only “We, Robot” event in Hollywood to show off its low-slung, two-seat CyberCab concept with no steering wheel or pedals. Musk said a driverless car would cost about $30,000.
At the time of the company’s second-quarter earnings call, it was not yet in production.
At an event in late 2017, Musk promised that Tesla would build the next generation Roadster, but the vehicle never went into production. In 2021, Musk promised the Roadster could “fly,” and last year he said the elusive sports car was being redesigned in collaboration with his aerospace and defense contractor SpaceX.
Musk has been promising to turn existing Tesla EVs into Robotaxis with a software update for about a decade.
The company now has human safety drivers on its Robotoxi-branded test and fleet vehicles, unlike rivals like Robotaxi alphabet with waymo Baidu’s Apollo Go.
In the realm of humanoid robots, Musk has said that Tesla’s Optimus robots could do factory work and babysit children, but they are not yet on the market. Meanwhile, competitors such as Agility Robotics and Unitree already sell Bipedal humanoid robots.
Following a brutal first quarter in which Tesla lost 36% of its value, the stock went on a tear, jumping 40% in the third quarter. This year it has increased by 12%. That stock price rally was helped by Musk, who bought about $1 billion in Tesla stock in mid-September.
Watch: Tesla teases new product launches
