Tesla (NASDAQ: TSLA) unveiled its new driverless taxi, Cybercab.

Tesla CEO Elon Musk appeared as a passenger in Cybercab at the Warner Bros. Studios in Burbank, California. The vehicle has no steering wheel and pedals, indicating that it is fully autonomous (AV) capable.

Musk said that unlike the supervised driving in existing Tesla models, Cybercab will achieve unsupervised full autonomous driving (FSD). He expects the car to be priced under $30,000 and is scheduled to go into production in 2026.

At the same time, Musk also showed a similar Robovan, an autonomous van that can accommodate up to 20 passengers.

Wall Street had mixed reactions to the launch. Wedbush analysts called Cybercab "quite impressive," while Bank of America called the event "in line with expectations." However, there were also criticisms, with some analysts calling the launch bland and failing to meet high expectations.

When investors were allowed to give feedback on the launch, the mood was quite disappointing. Tesla's stock price fell sharply in pre-market trading on Friday and continued to fall throughout the day, with an overall decline of 8%.

Investors obviously hoped that the press conference would provide more specific information, especially details about the production expansion plan and state-by-state regulatory approval. However, these expectations were not fully met at the press conference.

It is worth noting that in the market reaction after Tesla's press conference, the stock prices of ride-hailing giants Uber and Lyft rose sharply after the news came out.