Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, though fans of the electric vehicle maker will have to wait until at least 2026 before they are available

Wall Street’s early reaction to Elon Musk’s robotaxi reveal? Disappointment. Shares in Tesla fell roughly 6% in premarket trading Friday following an event that was heavier on showbiz but lighter on business than investors had hoped after months of buildup.

At Tesla’s We, Robot event at Warner Bros. Discovery’s studio in California, the company finally unveiled its robotaxi. The car is expected to go into production before 2027, but even Musk caveated that,

The Cybercab and Robovan use AI instead of Lidar and lack steering wheels and pedals, promising a futuristic experience on the road.

The company’s C.E.O. said the new autonomous vehicle, which does not have a steering wheel, would cost less than $30,000, but the technology still faces hurdles.