Morgan Stanley analyzes Tesla Cybercab launch in Austin

Tesla has officially launched its Cybercab autonomous taxi service in Austin, with 45 units registered. Morgan Stanley maintains a neutral rating with a $400 price target, noting that while Tesla's fleet size is currently smaller than Waymo's, the low operational cost of the Cybercab could disrupt the ride-hailing market. Tesla also reported reaching 1 million miles of unsupervised driving.