Tesla Motors (TSLA) saw its shares climb more than 7% on Thursday, reaching levels not seen since mid-July. This rally comes just hours before the much-anticipated Cybercab launch event, scheduled to take place after the US market close.

The electric vehicle giant is set to present its two-seater autonomous taxi, the Cybercab, during the evening event. This vehicle's design was first publicly revealed back in October 2024.

Investors are optimistic that Tesla's foray into robotaxis could help the company close the competitive gap with its rival Waymo, which currently holds a first-mover advantage in the space. However, details regarding what exactly will be announced at the event remain scarce.

Analysts have also cautioned that if Tesla fails to provide substantial information about the Cybercab's commercialization roadmap, the stock could experience a muted reaction or even a decline when trading resumes on Friday, following the event.