Tesla’s Cybercab event set for Thursday, with few details

On Thursday, Tesla will reveal its compact Cybercab at an event in Texas, marking a significant step towards transforming the company into a leader in autonomous vehicles, according to CEO Elon Musk. The two-seater vehicle, which lacks a steering wheel, is set to become a central model in a larger network of robotaxis. While Tesla has promised the Cybercab for years, its rollout has lagged behind expectations, despite the electric-vehicle maker's high market valuation.

Currently, Tesla's robotaxi service, which operates Model Ys both with and without safety monitors, is limited to certain areas within Texas and Florida. Analysts and investors view the autonomous vehicle sector as crucial to Tesla's long-term success, but the automaker's progress has been slower than anticipated. As of Wednesday, Tesla had registered 420 autonomous vehicles in Texas, including 45 Cybercab models.