After a long wait, Tesla (NASDAQ: TSLA) finally debuted its robotaxi on Thursday night. CEO Elon Musk arrived on the Warner Bros. soundstage in Burbank, California, as a passenger in the robotaxi, which he calls a Cybercab. It comes without a steering wheel or pedals, making it a strictly autonomous vehicle (AV).

Key Takeaways Shares of Uber and Lyft jumped on Friday after Tesla's introduction to its new robotaxi failed to live up to ridesharing investors' fears.Analysts noted Tesla's much-anticipated event was light on details about the rollout of a ridesharing app that would compete with Uber or Lyft,

Tesla’s disappointing Robotaxi event highlighted how late the company is to the autonomous-vehicle race, leaving the door wide open for its competitors.