Tesla’s value drops $60bn after investors fail to hail self-driving ‘Cybercab’

Analysts criticise lack of detail about the ‘robotaxi’ showcased by CEO Elon Musk

• Elon Musk unveils Tesla Cybercab self-driving robotaxi

Tesla shares fell nearly 9% on Friday, wiping about $60bn (£45bn) from the company’s value, after the long-awaited unveiling of its so-called robotaxi failed to excite investors.

Shares in the electric carmaker tumbled to $217 at market close following an event in Hollywood, where the chief executive, Elon Musk, revealed a much-hyped driverless vehicle. The stock price is down roughly 12% year-to-date.