Tesla CEO Elon Musk introduced the highly anticipated robotaxi, named the 'Cybercab,' during the We, Robot event held at Warner Bros. Discovery studio in Los Angeles on Thursday. This innovative two-door vehicle, which bears a resemblance to a compact version of Tesla's Cybertruck, is set to launch next year.

Musk arrived at the event and entered a stylish silver Robotaxi, a two-door vehicle featuring upward-opening butterfly doors. The Robotaxi, also known as the Cybercab, then took Musk on a tour around the lot before he disembarked to commence the event.

Musk highlighted that the Robotaxi is designed without a steering wheel or pedals and does not require plugging in for charging. Instead, he explained that the electric vehicle utilizes inductive charging, needing only to drive over a charging pad to recharge.

He mentioned that Tesla has a fleet of at least 20 Cybercabs and that there were 50 fully autonomous vehicles present at the event, some of which were already operating without any passengers.

Musk stated that Tesla plans to have unsupervised fully autonomous vehicles, specifically the Model 3 and Model Y, on the roads in California and Texas next year, with the Cybercab expected to enter production before 2027. However, he acknowledged his history of optimistic timelines, often resulting in later-than-anticipated product releases.

He also indicated that the Cybercabs would be available for purchase, with an expected price of under $30,000.

Tesla further elaborated in a post on X, revealing that the Robotaxi service would not charge a driver fee and that the fully self-driving vehicles would rely solely on cameras, foregoing radar or lidar technology. The company noted that customers could summon the Robotaxi for as long as needed, whether for a brief journey or an entire day.

Musk did not provide extensive details regarding the technology or safety features of the Robotaxis, as Tesla has faced scrutiny in the past concerning the safety of its driver-assistance systems.

Tesla has introduced the Robovan, a spacious shuttle van that Elon Musk indicated could accommodate up to 20 passengers.

Musk also highlighted Optimus, a humanoid robot projected to cost between $28,000 and $30,000, although he did not provide a specific timeline for its release.

"I believe this will be the most significant product ever created, of any type," Musk stated, adding, "I think everyone will desire their own Optimus companion."

At the conclusion of the presentation, several robots performed a dance routine on stage accompanied by a light display.

Ahead of the event, Musk shared on X that Tesla had constructed a "futuristic world" at the studio lot, posting images of a brochure from the occasion. The images featured a map outlining four distinct areas labeled "TSLA Theater," "New York," "Metropolis," and "Westworld." The brochure indicated that attendees could explore these areas for activities such as Texas BBQ, arcade games, and a block party with street performers.

The event experienced a delayed start, beginning nearly an hour later than scheduled, which Musk attributed in a post on X to a medical emergency involving someone in the audience.

The reveal was also broadcast live on X, Musk's social media platform previously known as Twitter, attracting over 3 million viewers at its peak.

The launch of Tesla's latest vehicle marks a significant achievement for the company and has been eagerly awaited for several years. Tesla had originally intended to unveil the Robotaxi in August but postponed the date following Musk's request for an "important design change to the front" of the vehicle, as he noted in a post on X. He also mentioned that the "extra time" would enable the company to "show off a few other things."

Musk has emphasized that achieving full autonomy is crucial for Tesla's future success.

"The primary value of Tesla lies in its autonomy," Musk conveyed to investors in July.

Musk has consistently forecasted the timeline for the readiness of self-driving technology over the past decade, despite facing regulatory challenges. While Tesla's Autopilot driver-assist system is widely accessible, the Full-Self-Driving upgrade remains in beta, necessitating continuous human oversight and the ability to take control of the vehicle.

In 2016, Musk claimed during a press conference that a Tesla would be capable of driving autonomously from Los Angeles to New York City by 2017. By 2019, he projected at a conference that there would be a million Robotaxis operational by 2020. However, by 2022, this timeline had shifted to 2023.

Despite Musk's positive predictions, Tesla's self-driving technology has encountered considerable obstacles and regulatory examination. A recent report from the National Highway Traffic Safety Administration indicated an investigation into numerous crashes involving Autopilot, which have led to 29 fatalities.

While earlier Tesla models have achieved Level 2 autonomy, Waymo, a subsidiary of Alphabet that has collaborated with Uber, has attained Level 4 autonomy, allowing vehicles to operate without a driver in certain U.S. cities.

Some analysts believe that fully autonomous Robotaxis are still several years away. In the interim, securing regulatory approval for the Robotaxi and its unsupervised full self-driving capabilities will be a significant challenge for Tesla in the near future.