[00:00] It's official, the CyberCab launch event just occurred, and I have to say, it leaves a little bit to be desired, although there are some things that are quite exciting here.
[00:12] First things first, Elon Musk was not at the event, and this surprised a lot of people. What instead we got is we got a tease that we'll be able to reserve these CyberCabs at some point in the future,
[00:25] and we got the ability to reserve potentially fleet vehicle orders for these, as well as a hint in a manual that in the future we'll be able to take delivery of these.
[00:37] But no actual for sale, no pricing, no actual orders, no real pre-orders, no Elon, like I said, and no broad goals in terms of, hey, how many of these vehicles are we going to launch?
[00:52] how many states are we going to be in or forecast. This was a lot more about, hey, guys, we got like 280, 290 licenses to have robo-taxis in Austin, Texas,
[01:05] and now we're including the cybercat. It doesn't have any pedals. It does have brake-by-wire, which is kind of cool. And, yeah, cool. Go check them out. And kind of what this event was. Now, we're going to go through some of the images here.
[01:17] So, first things first, this is the registration page right here. Take a look at this. you can now help build the CyberCab Robotaxi Network. If you go to casco.com slash robotaxi slash interest,
[01:30] you can actually, quote-unquote, help build our Robotaxi Network, complete our interest form to be considered in future Robotaxi opportunities. And you can check the box, I'm interested in, mobility hubs, event collaboration,
[01:45] other, or CyberCab fleet vehicle purchasing. Ooh, sounds interesting. Another thing that sounds a little bit interesting is you can actually now get this full manual for the actual vehicle.
[01:59] Apparently, we have this note here that the CyberCab uses the Unreal Engine, a trademark of Epic Games, in basically its computing. You also have this little quality note here on page 35. You might notice a few miles-slash-km on the odometer when you take delivery of your CyberCab.
[02:16] This is the result of comprehensive testing to ensure the quality of your CyberCab. So what this really is, is a sort of compliance disclosure that comes with the purchase of a new vehicle. And so there it is.
[02:30] CyberCab compliance and safety info. So one day when you own your CyberCab, this is what it'll look like. Now, of course, one of the things that's interesting that we've heard Elon talk about in the past are things like the automatic tensioners for seatbelts.
[02:45] and so they've got commentary here about how these seatbelts are also motorized. The car seats do not have a latch system, like the vehicle seats do not have a latch system for holding child seats.
[02:59] And instead, to hold child safety seats, both passenger seating positions are equipped with an automatic locking retractor, an ALR, a feature that by fully extracting the seatbelt beyond the length needed, locks the belt in place.
[03:14] This is kind of that thing where, like, basically what they're saying is there's no latch system for you to click, click, scrap your kid's car seat in. Instead, it's basically what every car has had that, you know, when you were a kid and pulled on the seat belt too much,
[03:28] and then it ratchets, and it goes click, click, click, click, click, click, and then you kind of get cinched down. That's to hold your car seat or packaging in place while you're driving. For the purpose of it, it's not just meant to be annoying.
[03:40] But that's what that is. So, okay. Anyway, so there's some excitement about how these seatbelt pre-tensioners, which Mercedes had this technology for a very long time. I know a lot of Mercedes engineers actually donned the Tesla, brought it, bringing over some of this technology.
[03:55] But what's really interesting is these pre-tensioners could actually be enabled with haptics, apparently, to make it so that you kind of get woken up if you fall asleep in a cybercap ride. So they can kind of vibrate you because the car doesn drive unless you in a seatbelt but then it could also be a tool that they like wake up get out Kind of cool kind of smart I like that I think that kind of cool There was a presentation but again Elon was not at the presentation
[04:24] So there are videos of sort of the, you know, multiple different people providing this. It's about a 15 minute video presentation. I'm just going to give you the bottom line. they started using the unboxing process for these vehicles,
[04:39] which I think is kind of cool. I shouldn't say unboxing, because it sounds like we're making a YouTube video unboxing something. It's called the unbox manufacturing process. And basically the thesis is, hey, we're going to try to manufacture these vehicles
[04:52] instead of on a long assembly line in places where we can essentially rotate the entire vehicle around, or components, like three different components, let's say, primary components of the vehicle, manufacture them there, assemble them all together,
[05:06] and the goal is to reduce the length of the manufacturing lines of the facility, which in this interview or sort of presentation, they argue that not only have they gotten to one million miles
[05:18] of unsupervised robo-taxi miles, which that's actually impressive. That's a feat right there. A lot of people have been wondering, wait, like, how are you guys actually going to get mileage if you're only driving around with 45 cars?
[05:31] Somehow they've managed to get to a million miles. which is pretty impressive, you know, divided by 45 vehicles, that's 22,000 miles, divided by about 360 days, that's about 61 miles per day. Kind of makes sense.
[05:43] But it's impressive. It means they've got the tech down for the Austin market to introduce these cybercats confidently to their fleet. And it actually seems like they're traveling through a wider area
[05:55] than just this potential, how should we put it, gated, supervised area where very few people have access to.
[06:07] It actually seems like these cybercats are driving around in quite a wide distance of Austin, Texas, which is impressive. Regarding the unboxed manufacturing process, and we'll look at a little bit more video here,
[06:22] you can actually see some footage here of what this looks like broken down. So unboxed manufacturing process, you see here, like the front section broken down. Then you could see this midsection, and then you could see the rear section.
[06:37] And then you do have the two sides, so potentially five components here that ultimately then sort of get puzzled together in this unboxed manufacturing process. In addition to commentary on this unboxed manufacturing process, there is talk about break by wire,
[06:53] which is what you would expect when you don't have a foot pedal to actually actuate an aedruolic pump, essentially, right? compressing brake fluid to send those discs out.
[07:05] Instead, you're electrically actuating your brakes. This makes logical sense when you have a fully autonomous vehicle without brake pedals. So, honestly, kind of cool.
[07:17] Not bad. We'll look at a little bit more videos here, but I will say I feel like we were a little bit spoiled by the fact that, you know, Elon wasn't there this time. and we were spoiled in the past at the Wii Robot event in that Elon was there.
[07:31] But this is Omar, Omar's blog, posting his. You can see a lot of Tesla employees right outside of the event, especially with these yellow Crocs here. That's interesting. Good for them, hey, man. Own it.
[07:43] I bet it's like Pokemon. But anyway, here's what the CyberCab looks like. People got invited to, well, go for rides in the CyberCab. I love the plating of the wheels. I think these are kind of cool. Very simple, very basic car.
[07:56] in that they're trying to cut out everything they possibly can to reduce costs on this. There's no glass ceiling, which reduces the need for some of the excessive air conditioning that you might otherwise need in a fully glass, untinted vehicle.
[08:10] Or worse, you know, you have it be glass and then you have to pay for tinting, right? And it's like, all right, well, that's another expense. Removing that expense here. You get in the vehicle with these sort of suicide wing doors, and when you close the door and buckle up your seatbelt the car will activate its robo ride which is kind of cool The door is also open as you get close to the vehicle probably through you know Bluetooth or otherwise
[08:37] But not bad. It's a two-seat car. It's no frills, no glove boxes. I'm not even sure if there are cup holders, but you can obviously watch videos. You can control the temperature in here. And I was impressed. This did not... See, it's kind of just like a...
[08:50] It honestly feels a little bit like Convictoria in the back, where you kind of got like a, you know, how should I put it? Back when I was a police explorer, we'd have all these like plastic frames around the car.
[09:03] It felt a little inexpensive, heavy-duty, but I think that's kind of what you want. Like if you're going to have these in a fleet, you don't want people going on your stuff and destroying it. It does look like they have cut out as many additional frills as they possibly could.
[09:18] But anyway, you can see Omar spends quite a bit of time on this actual Unreal Engine sort of imagery here. Just kind of cool. They did a great job here. But the car actually drove, you know, quite a bit here.
[09:31] So I was impressed with the distance that they left. I love the orange sort of look on the FSD driving here. I mean, this is a robo-taxi, and it's actually working. That looks like it's going now south of Austin.
[09:45] So across the bridge, south of Austin to, some people call it a little bit more of a yuppie area. But this is actually in process. So, not that. A little bit more imagery we'll go through as well, but some things to keep in mind.
[10:00] Again, no Elon, no expectations here. We just think 45 cybercabs are getting introduced into the fleet. Giga Texas does have an install capacity of 125,000 for these two-seat vehicles. So it's considered to be the safer, more affordable and scalable solution because you don't need LIDAR or a map,
[10:17] although we think this area was heavily validated before they allowed this release, if you will. Although it's right that they've got a million miles of unsupervised robotaxis already, they also mention that regarding the sort of unboxed process,
[10:33] they've achieved a 50% reduction in line size and argued that they can increase output, though they didn't tell us how much they think they can increase output. Sort of no real insights here on potential margins for the stock in terms of producing these.
[10:48] No guidance on when these might be available to purchase. Whatever. You can see here, Omar does end up posting the exiting the cybercap vehicle. It actually looks, you know, like it's pretty unsupervised.
[11:02] No, I don't see, at least as far as I can tell, obvious, you know, staff standing around or chase vehicles or whatever. This actually looks like it's operating like a full self-driving fleet.
[11:17] And that's kind of cool. I'm kind of curious. Why does it stop here? Is it because there's this other car on the road and it doesn't think it's wide enough to fit there? It's actually interesting. The video is sort of like cut here. but there's clearly room to go there
[11:33] and this car is clearly stopped on the right I mean maybe it's stopped for traffic right here that's possible they got a red light that might be what it is but that's still leaving one heck of a gap there but that's okay those are little things that can be fine-tuned over time
[11:46] you can see that here yeah so it's because they're out of red light that's sort of my initial reaction but fast-forwarding again a little bit you can see kind of decides to just hang out way back here,
[11:59] which appears to be behind that next vehicle. I'm going to assume once this traffic passes, it goes. We'll give it the best benefit here of the doubt. It's pretty good overall.
[12:11] You know, it's not the sort of scale that people were hoping for, but it is kind of neat. You can kind of see the no-frills seats here, the no-frills carpeting. got staff making sure people aren't touching stuff. Understandable. And again
[12:30] you've got break by wire which is which is kind of neat. That's a first and so pretty neat We already have steer by wire in the Cybertruck and it fantastic The Cybertruck to some extent obviously I own one was one of probably the lead on this Here Sawyer posting a little bit of kind of
[12:47] what the app looks like, which is very similar to just a regular kind of robo-taxi ride. Remember when I went on my robo-taxi ride? I enjoyed it. You've got more people posting footage here of their cyber cab rides.
[12:59] They look pretty good. I mean, it goes to show that this event can launch cyber cabs into the public, and now you're going to see somewhere around 50 cybercabs driving around Austin.
[13:11] It's actually kind of exciting. No one's in the car. You don't see an obvious chase car. You don't see people obviously outside. I mean, there might be some tele-operations going on here. I'm sure there are, especially if there's like an emergency stop or some kind of takeover
[13:25] request. Totally understandable. But it does give you a hint that maybe there's some scaring potential here, which is actually pretty impressive. for Austin. And so that's where a lot of investors are still looking,
[13:39] okay, cool, well, when are we going to get beyond Austin? When can we get these to scale to hundreds of cities like we thought we were going to see way sooner following the WeRobot event? I still think this is cool.
[13:51] I think overall this is exciting. Apparently Starlight is going to be integrated to the point where you can watch 4K videos, which is great. You should watch some of the Kevin 4K videos. You'd like. some other things that I saw,
[14:05] just other people posting some computer hardware or, you know, for the, this is the CyberCaps hardware computer, let's phrase that correctly.
[14:17] Shout out to Sawyer here on this video. But ultimately, you know, I think Morgan Stanley was expecting some more insight on scale.
[14:29] Omar also verifying that you can pick any destination in Austin. That's honestly pretty good. So are you all going to predetermined routes, or are you selecting the destinations? Omar says you can pick any destination.
[14:41] That's impressive. I'm going to give them credence and credit on that. I think that's fantastic. A lot of people now posting sort of their cyber cab videos as far as their rides around.
[14:55] overall, it's kind of like a, all right, cool, we now have gone from no cybercops, a new production vehicle, to 47.
[15:09] It's a slow rollout, but the point is it's a rollout. So, good news in that sense, is it the mega scale we were hoping for? We're going to be in this many cities with this many thousand produced by this time next year or whatever?
[15:22] No. But then again, sometimes those estimates are just way off anyway. Morgan Stanley kind of thought that this might be sort of a make-or-break moment where you could potentially re-rate the stock to the upside
[15:34] if they give us a really good vision about we're shipping these here and here and here, we're scaling to all these different areas. We didn't get that. Maybe we need to map those areas. We don't know. In that interview, they said, hey, we don't need LIDAR.
[15:47] You know, we don't need to wait for all this mapping. In the interview, in their presentation, they give, we rely on vision data. But then a lot of people suspect that one of the reasons we're gated just to Austin is because Austin was maybe validated completely with so much edge data by actually driving all of it and dealing with all the edge case scenarios and pre-programming those things that you essentially mapped Austin by, you know, really heavily supervising the RoboCaxi rollout over the last year.
[16:19] which then of course slows down the scale throughout the entire country. No, no, no. Overall, it's cool. Wish Elon were there. Wish we had a little more color on the future plans. But I have to say,
[16:31] it wasn't bad. It's sort of like a kind of cool. Now we got yellow cars in the fleet. Let's see, what are we taking from here? Dang, I'll advertise these things in total here. I feel like nobody else knows about this. We'll try a little advertising
[16:44] and see how it goes. Congratulations, man. You have done so much. People love you. People look up to you. Kevin Passerath there, financial analyst and YouTuber, meet Kevin, always great to get your take