Tesla Shares Sink After Musk’s Robotaxi Unveiling Disappoints

Elon Musk unveiled Tesla Inc.’s highly anticipated self-driving taxi at a flashy event that was light on specifics, sending its stock sliding as investors questioned how the carmaker will achieve its ambitious goals.

The chief executive officer showed off prototypes of a slick two-door sedan called the Cybercab late Thursday, along with a van concept and an updated version of Tesla’s humanoid robot. The robotaxi — which has no steering wheel or pedals — could cost less than $30,000 and “probably” will go into production in 2026, Musk said.

The product launch, held on a movie studio lot near ...