Tesla's Cybercab robotaxi is one of the most highly anticipated releases this week.

On Thursday, at the Warner Bros. Hollywood studio, CEO Elon Musk will announce the company's plans for a robotaxi. The project has been reignited by Tesla's stock amid a cooldown expectation for EV growth according to Reuters. 

The robotaxi will be called "Cybercab," and it will be a vehicle capable of self-driving and offering ride-hailing services. The EV maker will reportedly allow owners to profit from their cars by placing them in the ride-hailing network as autonomous cabs. Musk called this endeavor a fusion of Airbnb and Uber, further piquing interest among customers.

READ MORE: Full-Self Driving Feature Now Available in Some Tesla Cybertrucks; What Are Its Functions? 

While other companies with robotaxis incorporate radar systems and lidar technologies, Tesla's current vehicles beg to differ by relying on cameras, artificial intelligence and driver supervision. By improving this technology, Musk expects a breakthrough into a highly regulated industry.

Robotaxi's valuation estimate from $750 billion to $5 trillion has gained attention from investors. Due to this, investors are now interested in seeing the Cybercab's prototype version and knowing how fast Musk can mass-produce the vehicle.

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