Nothing is more important to Tesla than its ambitious plan for self-driving “robotaxis.” But even as it hosts an event for its Cybercab service Thursday, it still has a long way to catch up to the competition in an industry where few have made any money at all.

Tesla has stayed relatively mum about its presentation Thursday evening, except for a a 51-second video of the Cybercab posted on the social media platform X. The video showed the vehicle on Austin streets and images of people using an app to hail one, but had little narration. But the public first got a look at the Cybercab at a glitzy Hollywood event two years ago, and prototypes have been seen in cities across America since then.

Even if the company pulls off the technological feat that would be full Cybercab service, however, it might run into a much larger issue – profits.

Tesla did not respond to requests for comment.

Tesla is far behind robotaxi targets – and a rival