SAN FRANCISCO, Oct 24 (Reuters) - Tesla stock

shot up nearly 12% in pre-market trade on Thursday, a day after

it forecast surging car sales growth, reassuring investors that

CEO Elon Musk was still looking to expand the company's core

business of selling electric vehicles.

The stock jump set the company up to add around $80 billion

to its market capitalization, making up for a recent erosion in

value caused by concerns that Musk was distracted by new

projects like the recently unveiled robotaxi, which he has said

will drive future growth.

Musk has been pivoting Tesla into an artificial intelligence

and robotics company from an EV market leader, but has yet

failed to lay out a detailed business plan for his new focus.

Last quarter, he made bold company announcements about

everything but cars - from driverless taxis to humanoid robots -

leaving investors worried about dwindling margins already

squeezed by lowered prices.

On a post-earnings call on Wednesday, though, Musk forecast

20% to 30% sales growth next year, promising an affordable

vehicle, and said efforts to slash production costs boosted

margin.

"He definitely seemed more passionate and invested in it

this time," said Jessica Caldwell, head of insights at car

research and buying website Edmunds.

"I feel like so much of Tesla is tied up in the future but

we need to figure out how you get there. That's what people

needed to hear and they were a little bit better in providing

those details than they have been in the past."

The results followed a flashy event this month to unveil a

two-seater robotaxi dubbed Cybercab that will go into production

in 2026 without a steering wheel or pedals and cost less than

$30,000 to buy. The event also featured a 20-seater driverless

van and humanoid robots that danced for attendees.

Disappointed by the lack of some key details on how quickly

Tesla could ramp up robotaxi production and clear inevitable

regulatory hurdles, investors punished the company's stock after

that event.

Musk on Wednesday said Tesla aims to produce at least 2

million Cybercabs a year.

Not all investors are likely to be mollified by Tesla's

reassurances on Wednesday.

Ross Gerber, CEO of Gerber Kawasaki Wealth and

Investment Management and a prominent Tesla investor, said

robotaxis and AI were not the fundamental businesses he wanted

Musk to focus on.

"The days were good when Elon slept at the factory. He was

there every day, working. Not going on Trump rallies of all

things he could be doing," Gerber said, referring to Musk's

well-publicized support of the Republican presidential

candidate. Gerber made a short-lived run for the Tesla board

last year.

Musk on Thursday said he expects Tesla vehicles to offer

paid, driverless, ride-hailing services next year, doubling down

on his promise made at the robotaxi event. He said the company

was already testing the operations with its employees in the San

Francisco Bay Area.

But that plan is likely to face significant regulatory

challenges.

Musk himself acknowledged on Wednesday the potential

difficulties in getting approvals in California, saying "it's

not something we totally control," but adding "I would be

shocked if we don't get approval next year."

For now, encouraging fundamentals of the core EV business is

likely to keep the heat off Musk. Until next quarter.

"Capturing sales in today's challenging market and

streamlining operations aren't as sexy as self-driving cabs and

dancing robots," Edmunds' Caldwell said. "But they're critical

toward funding the company's long-term vision for the future."