Waymo operates over 4,000 vehicles across 15 U.S. cities and completes more than 500,000 weekly rides, far ahead of Tesla’s current robotaxi footprint.
- Ross Gerber photographed a “secret” Santa Monica lot containing “100s” of Waymos ready for deployment.
- Gerber Kawasaki retained 279,997 Tesla shares worth about $117.8 million as of June 30, representing 3.1% of its portfolio.
- NHTSA gave Tesla until Sept. 30 to answer 21 questions about how its steering wheel, pedal and mirror-free Cybercab meets safety standards without an exemption.
Tesla, Inc. (TSLA) shares are headed for a weekly decline. Investor Ross Gerber rubbed salt in the wound by spotlighting a “secret” lot packed with Waymo vehicles and accusing Cybercab of “wasting time” amid mounting regulatory scrutiny.
TSLA stock is down 2% this week and on track to snap a two-week winning streak.
Gerber Says Waymo Is Preparing To Go Big
Gerber, CEO and co-founder of Gerber Kawasaki Wealth and Investment Management, posted photographs on X showing rows of Waymo vehicles parked at a Santa Monica facility. “I found a secret lot today snooping around Santa Monica,” Gerber said. “It was filled with new Waymo's ready to deploy. 100s of them. Something crazy is about to happen...”
Gerber said the parking lot suggested that Alphabet’s robotaxi unit was preparing to accelerate its rollout. “Looks like Waymo is moving into big time scale mode,” he said. “While tesla cybercab wastes time because they didn't apply for an exception for having no brake pedal.”
The criticism comes despite Gerber Kawasaki retaining substantial Tesla exposure. The firm held 279,997 TSLA shares worth about $117.8 million as of June 30, representing 3.1% of its portfolio, according to Koyfin data.
Waymo currently operates more than 4,000 vehicles across 15 U.S. cities and completes over 500,000 paid rides weekly. It recently launched in Las Vegas after expanding into Denver, San Diego and Tampa, and is targeting one million weekly rides by year-end. Tesla, in comparison, had 420 registered autonomous vehicles in Texas around Cybercab's commercial debut earlier this month, including 45 Cybercabs. Waymo had 988 autonomous vehicles registered in the state.
Tesla Faces Questions Over Cybercab Safety
Cybercab is a two-seat robotaxi with no steering wheel, pedals or mirrors. It currently operates only in limited parts of Austin through Tesla’s Robotaxi app. CEO Elon Musk called it “the first car that is specifically built for unsupervised full self-driving,” while Tesla executives have promised a “first-class experience at coach price.”
Its unconventional design, however, is now at the center of a National Highway Traffic Safety Administration (NHTSA) audit. NHTSA has given Tesla until Sept.30 to answer 21 questions explaining how Cybercab complies with existing federal safety standards without an exemption.
The regulator wants to know whether temporary steering or braking controls were used during certification, whether passengers can move the vehicle through its touchscreen, and how Cybercab satisfies requirements covering foot-operated brakes, turn signals, mirrors, rear visibility, and stability-control warnings. Tesla must also disclose its fleet size, expansion plans and operating restrictions.
Can Cybercab Catch Waymo At Scale?
Tesla is betting its camera-only system and lower-cost vehicle can eventually scale faster than Waymo’s approach, which uses cameras, lidar, radar and detailed maps.
At Tesla’s October 2024 Cybercab unveiling in Burbank, Musk said the vehicle would cost less than $30,000. He later told investors during Tesla’s third-quarter earnings call that it could become the company’s highest-volume vehicle, with annual production eventually reaching at least 2 million units. Currently, Waymo leads in vehicles, markets and paid trips, while Tesla’s limited robotaxi service has faced reports of long waits, unavailable cars and routing errors.
How Do Retail Traders Feel About TSLA?
On Stocktwits, retail sentiment for TSLA slipped to ‘extremely bearish’ from ‘bearish’ levels a week ago amid a 12% rise in 24-hour message volumes.
One user said, “$TSLA If you know anything about a Camera Only system. It can't operate in heavy rain, extreme darkness or dense fog. Therefore it can't operate continuously under any conditions and will not ever achieve Level 5. In my humble opinion. NHTSA is going to shut down all unsupervised Cybercabs. Literally just before the midterms... Call it political when it happens but all I see is a planned exit scam”
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Another user said, “$TSLA show us the demand number... they claim 500 miles per charge... in reality, probably less than 400 miles with full charge. And how long does it take to charge?? Good luck meeting the deadline driving 2000+ miles”
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So far this year, Tesla's stock has lagged its "Magnificent Seven" peers, making it the group's worst performer, down about 20%.
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