Tesla CEO Elon Musk addressed concerns about the company’s declining stock value and vandalism incidents targeting its electric vehicles at an all-hands meeting. Musk assured employees that they should keep their shares, citing the company’s promising prospects in robotaxis and humanoid robots.
Musk highlighted Tesla’s technology advancements, including a new software update for robotaxi capabilities, and touted the Cybercab, a two-seater with no steering wheel or brakes. The CEO also mentioned the forthcoming production of humanoid robots, dubbed Optimus, which aims to produce 5,000 units this year.
Despite stiff competition in the driverless ride-hailing market from Alphabet’s Waymo, Tesla faces challenges in both robotaxis and humanoid robotics markets. Musk acknowledged this but emphasized that his company’s Optimus is “the most sophisticated humanoid robot on Earth.”
The meeting comes as Tesla shares have plummeted over 40% of their value during Elon Musk’s two months in Washington, D.C., and protests against the CEO and his work in the Trump White House have erupted globally.
Source: https://www.cnbc.com/2025/03/21/elon-musk-tells-tesla-employees-hang-onto-your-stock-in-all-hands.html