Tesla shares plunge as Elon Musk unveils robotaxi and humanoid robot plans

Elon Musk's recent presentation on Tesla's plans for robotaxis and humanoid robots led to a significant sell-off of Tesla shares, which dropped 8.8% on Friday, erasing $67 billion in market value. Investors expressed concerns over vague timelines and a lack of a clear business model. Musk announced that two-seater robotaxis could be available by late 2026, but investors were skeptical due to past missed deadlines. The event also showcased an updated humanoid robot, but it required human supervision, raising doubts about its immediate viability. Tesla's focus on AI and autonomous vehicles is crucial for its market valuation, which currently stands at $696 billion. However, competition from companies like Waymo and regulatory challenges may hinder Tesla's progress in achieving its ambitious goals.