Tesla CEO Elon Musk has told employees to hold on to their shares despite a sharp drop in value this year, touting the company’s future in robotaxis and humanoid robotics while brushing off a wave of protests and vandalism linked to his political alignment.
Speaking at an all-hands meeting on Thursday night, Musk acknowledged the turmoil surrounding Tesla — including falling sales, a plunging share price, and criminal attacks on Tesla vehicles and showrooms — but maintained that the company’s long-term outlook remained strong.
“It’s very difficult for people in the stock market — especially those that look in the rearview mirror, which is most people — to imagine a future where suddenly a 10 million-vehicle fleet has five to ten times the usefulness,” he said. “So what I’m saying is hang on to your stock.”
Tesla shares have risen 5.27% to close at US$248.71, though they remain down over 40% since the start of the year. Musk’s comments came after a string of setbacks, including tumbling sales in Europe, China, and parts of the US, as well as the announcement of yet another major recall for the Cybertruck.
‘Stop being psycho!’ Musk responds to vandalism
Musk also lashed out at critics targeting Tesla assets, following a surge in attacks on Tesla EVs, Supercharger stations, and showrooms.
“If you read the news it feels like, you know, Armageddon,” Musk said. “I can’t walk past the TV without seeing a Tesla on fire… I understand if you don’t wanna buy our product, but you don’t have to burn it down. That’s a bit unreasonable.” He added, “This is psycho, stop being psycho!”
The Department of Justice has labelled the attacks as domestic terrorism. Attorney General Pam Bondi pledged that perpetrators would be prosecuted.
Cybertruck faces eighth recall amid production woes
Despite Musk’s upbeat tone, Tesla is facing renewed scrutiny over the Cybertruck after the US National Highway Traffic Safety Administration issued a recall covering over 46,000 vehicles. The defect involves a stainless steel trim panel known as the cant rail assembly, which can detach while driving due to a failing adhesive. It’s the eighth Cybertruck recall since deliveries began in late 2023.
Musk, however, downplayed the issue, instead focusing on the vehicle’s safety credentials. “It got a five-star rating for crash safety,” he said, while noting that the Cybertruck had become the top-selling fully electric pickup.
The company is also facing delivery issues and regulatory hurdles abroad. Australian experts say the Cybertruck is unlikely to launch there anytime soon due to safety requirements, right-hand drive constraints, and pricing that could exceed $200,000.
Robotaxis and robots: Tesla’s future bets
Much of Musk’s meeting focused on Tesla’s long-term projects, especially autonomous vehicles and humanoid robots. He previewed the “Cybercab,” a two-seater robotaxi without a steering wheel or brakes, set for production in Austin in 2026. He claimed the production line would operate like a “high-speed consumer electronics line” capable of producing a car in under five seconds.
He also said that Tesla’s humanoid robot, Optimus, is now being assembled in Fremont, with a goal of building 5,000 units this year and 50,000 by 2026. Tesla employees will get early access to the robots, which Musk compared to R2-D2 and C-3PO.
“Everything is totally new. I will say we are succeeding if we get half of the 10,000,” Musk added. “Even 5,000 robots — that’s the size of a Roman legion.”
Tesla faces stiff competition in both arenas. Waymo, owned by Alphabet, is expanding its driverless ride-hailing service, and Chinese EV makers are embedding Tesla-style autonomy into new vehicles. In humanoid robotics, rivals like Boston Dynamics and Apptronik are pushing forward with models capable of running, crawling, and performing complex tasks.
Still, Musk remains confident. “Optimus is the most sophisticated humanoid robot on Earth,” he said, despite the fact that many of its public demos have so far relied on human operators.
