At a surprise all-hands-on meeting held Thursday night in Texas, Tesla CEO Elon Musk rallied the company’s employees as the brand’s reputation continues to take a hit. The live-streamed meeting caught many off guard and saw Musk address concerns about Tesla’s stock, which has dropped by 50 per cent since December. Musk urged his employees to “hang on to your stock,” reassuring them that exciting developments are coming for both Tesla’s Cybercab robotaxi and Optimus humanoid robot.
Promises of future growth with Optimus and robotaxis
During the meeting, Musk acknowledged the decline in Tesla’s stock price. Still, it stayed confident, stating that the company’s advancements in autonomous software – including the Full Self-Driving feature, robotaxis, and Optimus bots – would help Tesla reach new heights. He spoke about the potential of these technologies, emphasising how groundbreaking they are. “It’s so profound, and there’s no comparison with anything in the past,” he stated.
Musk’s ambition for the Optimus humanoid robot was clear. He stated that Tesla plans to produce about 5,000 of these robots in the coming year. He said that the company would “literally build a legion, at least one legion of robots this year, and then probably 10 legions next year.” This statement highlighted Musk’s strong belief in the growth and potential of the Optimus project.
Cybercab’s revolutionary manufacturing process
Another key topic discussed was the future of Tesla’s Cybercab, a self-driving robotaxi that Musk had previously showcased at the company’s “We, Robot” event. According to Musk, Tesla is working on a “revolutionary manufacturing process” that will enable the company to produce a robotaxi in “less than five seconds,” similar to a high-speed consumer electronics production line.
Musk mentioned that a large casting machine would be required to carry out this process, hinting at the “gigacasting” technology that Tesla had been exploring but reportedly scaled back on last year. He also gave a glimpse into the price of the Cybercab, stating that consumers could expect to purchase one for US$30,000 by 2026.
Pressure on Musk amid concerns and protests
Tesla’s all-hands-on meetings usually occur during the day, but Musk chose the evening to address employees. This timing could be linked to the growing pressure from protests and concerns from analysts, such as Wedbush’s Dan Ives, who expressed worry about Musk’s increasing involvement in politics.
“I have, like, 17 jobs,” Musk told the audience when questioned about his many roles. In addition to running Tesla, Musk is also the head of SpaceX, Neuralink, and The Boring Company. Furthermore, he has been leading the Department of Government Efficiency (DOGE), where he has promised to cut wasteful government spending. However, critics have pointed out that his actions have led to the dismantling of crucial institutions like the FTC and USAID.
Despite the mounting challenges, Musk did not face any direct questions from employees about his political involvement during the Q&A session at the meeting. His focus remained on Tesla’s future and ambitious projects, which he hopes will bring the company back to prominence in the tech world.
