Tesla CEO, Elon Musk, has claimed that humanoid robots could increase the value of his company to £19 trillion.
This would boost Tesla to more than half the value of the stock market index tracker, the S&P 500.
S&P 500’s current value stands at a whopping £35 trillion.
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This is one of many claims Musk has made as of late.
During Tesla’s 2024 annual shareholder meeting, he alleged that the robots they announced in 2021 will catapult the company’s value.
The current market cap for Tesla sits at £457 billion, with the CEO believing the robots could increase this to £19 trillion.
At the meeting held in Austin, Texas, USA, Elon Musk stated that the robots will perform like R2-D2 and C-3PO from Star Wars.
The CEO listed that Tesla’s exciting product will be able to cook, clean, work in factories and even teach kids.
Known as Optimus, the CEO believes that Tesla will have over 1000 robots working for them by 2025.
The CEO aims to be producing 100 million robots per year with each going for around £20,000.
Elon Musk also referenced the possibility of an automated robot-taxi service that Tesla would lend their cars to.
At the shareholder meeting, attendees approved the £44 billion compensation pay package that was previously struck down.
Despite Elon Musk’s ambitious claims, shares in Tesla have dropped by 27% in 2024, as reported by Absolutely Business.
This is due to a combination of an ageing lineup of electric vehicles and increased competition from China.
Elon Musk stated at the meeting: “I just want to start by saying hot d***!
“I love you guys.”
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