Tesla CEO Elon Musk says the company's long-awaited robotaxi will be announced on August 8th. The news caused Tesla (TSLA) shares to bounce on Monday.

But not everyone thinks the news is a huge deal. Roth MKM Senior Research Analyst Craig Irwin tells Yahoo Finance that he thinks the robotaxi will be more like a "cybertaxi." Unless Tesla starts incorporating things like lidar and more and improved cameras, Irwin thinks the robotaxi will be a "nonstarter." "I think it's going to be a disappointment," Irwin says.

For a more bullish take on Tesla, check out what ARK Invest Analyst Tasha Keeney has to say.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Stephanie Mikulich.

Video Transcript

[AUDIO LOGO]

SEANA SMITH: Well, Tesla shares getting a boost this morning as investors are keeping a close eye on the company's latest announcement. You're looking at gains of just about 4%. Well, Tesla CEO Elon Musk writing on X that the EV maker is going to be unveiling its new robotaxi on August 8th. Earlier today on the Yahoo Finance's The Morning Brief, I asked Tasha Keeney of ARK Invest about the announcement, how bullish this could be for Tesla. Here's what she had to say.

TASHA KEENEY: We think this is going to drive the future value of Tesla when we look out five years. We think it'll be 2/3s of the enterprise value in five years. So we're super excited about it. Can't wait for August.

SEANA SMITH: For more on what this means for Tesla, we want to bring in Craig Irwin Roth MKM Senior Research Analyst. It's great to have you, Craig. I have a feeling that you might disagree with Tasha just a bit. So she's making the case that she thinks this is going to come for about 2/3s of Tesla's enterprise value within the next several years. What's your response?

CRAIG IRWIN: Yeah. Fundamentally, level 4 [INAUDIBLE] will consume as much electricity as the drivetrain. There is, you know-- technically, it's conceivable, it's feasible, but not on the vehicles that have been sold, and not in the format that anyone's close to today. So it is a non-starter unless they start doing things like millimeter radar and introducing LiDAR and go with many more cameras that are much higher resolution than what they have now. So I think what we're going to be shown should really be called the cybertaxi. It's been-- it was basically announced two years ago, they're going to have it built for taxi market vehicle.

And recent coverage in an interesting biography suggests that the vehicle is going to look a little bit more like the Cybertruck. So let's call this the cybertaxi. I think it's going to be a disappointment. There's no way this is going to be as funny as the dancing robot when Tesla announced they were going to crush what Boston Dynamics has done. I am not a believer.