Tesla stocks drop after Tesla Bot reveal, Musk claims people don’t understand

share to other networks share to twitter share to facebook

Tesla’s anaemic reveal of Tesla Bot last week has gone over well. With Tesla stocks dropping by almost 15% since the robot’s reveal, the world is unimpressed by the one-day commercial robot.

With months of hype from Tesla CEO Elon Musk, the Tesla Bot reveal was a huge disappointment. However, that same CEO is claiming that stockholders are just misunderstanding what they saw on stage.

Advertisement

Tesla Bot drops Tesla Stocks

Reported by Electek, an electric vehicle outlet, Tesla is current free-falling on the market. Following its robot reveal, the company has been ridiculed by fans, observers and robotics experts alike.

Many have noticed that Tesla Bot is far from the state it was hyped up to be. With CEO Elon Musk claiming that the robot would bring an “age of abundance”, it’s clear that the technology is at least five years from release.

In fact, Tesla Bot is behind the curve in many ways. Not only has Boston Dynamics created more advanced robots almost a decade ago, but Chinese tech giant Xiaomi has created more realised (if still rough) robots with CyberOne.

Advertisement

Across the world, robotics experts have claimed that this recent reveal is just more proof that Tesla is a sham. One robotics expert said on Twitter: “This Tesla AI day is next level cringeworthy. Complete and utter scam. Who on earth believes this bulls**t anymore? Welcome Boston dynamics engineers to the realization that Elon is a scam.”

Two prototypes were revealed at the Tesla AI Day Event. One robot, not present at the show, could walk and water plants. On the other hand, the stage present robot prototype could only wave. In comparison, Xiaomi’s robot was able to walk on stage and take a selfie with the event’s host.

Read More: Kim Kardashian fined for peddling crypto to unsuspecting fans

Advertisement

Cutting through the hype

The current prototype of Tesla Bot is said to be made over the course of just six months. However, it’s expected that the robot has been in development since before last year’s AI Day event.

With Tesla snatching up a large amount of robotics experts from companies like Boston Dynamics, the progress isn’t as impressive as it seems. It is still awesome to see even the barebones prototype.

However, Tesla Bot was announced with a proposed release date of 2023, and it’s now between five and ten years away. With this in mind, it’s no wonder that Tesla Stocks are plummeting after the reveal.

Advertisement

By the time Tesla’s robot actually releases, there will be a number of competitors on the market. Furthermore, investors may end up realising that the general consumer doesn’t really want a robot helper.