Musk Answers Tesla Faithful With Trillion-Dollar Robot Prophesy [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
After Tesla's general counsel confirmed Thursday that investors supported awarding stock options to Musk worth as much as $55.8 billion, the chief executive officer said the company's robot-making effort may one day dwarf its car business. Tesla has all of two humanoid robot prototypes plucking battery cells off the end of a production line in California and placing them in shipping containers. “Quite a few” others are cruising around the company's offices in Palo Alto, Musk said during the company's annual meeting. The CEO isn't expecting the bot — called Optimus — to go into limited production until next year, when Tesla could put a few thousand to the test in its own factories. He nevertheless offered a pie-in-the-sky projection that Tesla may one day make around $1 trillion of profit annually from the product, without offering a time frame. “If the price-to-earnings multiple is, say, I don't know, 20 or 25, something like that, that would mean a $20 trillion market cap from
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