Robotaxi Day will usher in “new era of growth” for Tesla, says Wedbush By Investing.com

Investing.com — Tesla (NASDAQ: ) is set to host its much-anticipated Robotaxi “We, Robot” event next Thursday, October 10, at the Warner Bros. Film Studio. from Los Angeles after market close.

Analysts at Wedbush believe Robotaxi Day could be a pivotal moment for Tesla and Elon Musk, signaling a “new era of future growth” focused on autonomous driving, Full Self-Driving (FSD) and AI.

“We continue to believe that Tesla is the most undervalued AI name on the market, and we expect that Musk & Co. to unveil a ‘game-changing’ autonomous technology at this event next week,” analysts said in a note on Monday.

They expect the event to provide detailed updates on Tesla’s rumored Robotaxi, possibly called the “Cybercab,” as well as developments in the Next-Gen platform and advancements in FSD and AI.

Wedbush also anticipates that Tesla will unveil its strategy to roll out Robotaxi in phases over the next year. Also expected are key Cybercab rollout projections, cost-per-mile estimates, the launch of a Tesla ride-sharing app, and a Generation 1 demonstration of its innovative urban transportation technology.

“With very few industry events as anticipated as this one, we believe Musk will address the near-term pain points noted by investors and the company’s long-term vision as Tesla undergoes its second unprecedented transformation from the Model 3/Y production review. “, noted the analysts.

They “strongly believe” that Tesla remains a leader in robotics and AI, rather than just an electric vehicle (EV) maker.

Tesla’s recent release of FSD 12.5 in September brought significant updates, and FSD 13 is expected before the end of the year, with promises of a 6x improvement in mileage, up from 3x currently in v12.5.

Additionally, Tesla’s proprietary neural network remains a focal point. Analysts said that this update is expected to introduce features such as autonomous parking and reversing.

Updates on the company’s humanoid robot Optimus are also expected, with the company targeting external sales of the robots by 2026.

Wedbush believes it marks “a pivotal moment for Tesla” as it unveils the results of years of research and development into its Robotaxi project, while Musk and his team lay out the company’s vision for the future.

“We continue to believe that AI/FSD alone represents a $1 trillion value for Tesla in the coming years…next week it’s time for Musk to have an unveiling event to kick off this AI era at Tesla,” the firm concluded .

It reiterated an Outperform rating on Tesla shares and a $300 price target.