Tesla CEO Addresses Employees Amid Stock Decline, Promises Technological Advancements
In a surprise nighttime all-hands meeting at Tesla’s Texas facility, CEO Elon Musk addressed employees, encouraging them to retain their stock despite a 50% drop in value since December. The meeting comes as the electric vehicle manufacturer faces increasing public scrutiny and declining reputation.
Musk deflected concerns about the stock value decline, instead focusing on the company’s future prospects. He reiterated promises of Tesla’s autonomous software enhancing company value and emphasized the potential of the Full Self-Driving feature, robotaxis, and Optimus humanoid robots.
In a bold claim, Musk stated that Tesla could potentially produce 5,000 Optimus robots this year, with plans for increased production in the following year. This announcement aligns with the company’s push into robotics and artificial intelligence.
The CEO also revealed plans for a “revolutionary manufacturing process” for the Cybercab robotaxi, describing it as capable of building a vehicle in under five seconds. This process reportedly requires a large casting machine, hinting at a possible revival of Tesla’s “gigacasting” technique. The Cybercab, unveiled at last year’s “We, Robot” event, is projected to have a sale price of $30,000 by 2026.
The meeting’s unusual timing and content come as Musk faces pressure from protests and analysts’ concerns, particularly regarding his political involvement and management of multiple companies. When questioned about his time management, Musk claimed to have “17 jobs,” including leadership roles at SpaceX, Neuralink, and The Boring Company.
Musk’s involvement in the Department of Government Efficiency (DOGE) has also drawn attention, with some of his actions affecting government institutions sparking controversy.
As Tesla navigates these challenges, the company’s ability to deliver on Musk’s ambitious promises will likely be closely watched by investors and industry observers alike.
