Tesla’s stock (TSLA) is free-falling today as its newly unveiled robot is getting ridiculed, but Elon Musk claims people don’t understand the value.
Tesla’s stock is down 8% today while the Nasdaq is up 2%. This is one of Tesla’s biggest drops of the year, and it comes off of two separate events that happened since the last market close on Friday.
The second event contributing to Tesla’s stock falling is the AI Day event held late on Friday.
The market is still digesting the event, but the general consensus appears to be disappointment, mainly that Tesla didn’t communicate clearly how much closer it is to its goal of delivering a self-driving system.
Tesla did disclose some significant progress with its Dojo supercomputer program and impressive new technologies to improve its self-driving program, but there’s still no clear path to delivering on its promise.
Then there’s the Tesla Bot.
After pulling opinions from analysts and social media, it appears that the consensus is mainly that the two prototypes unveiled were mostly underwhelming.
One of them couldn’t even walk, and the other was barely able to walk and wave to the crowd. Tesla did release some videos of the robot completing other tasks, but those were mostly unimpressive, and it looked like purpose-built robots would make more sense for those tasks.
Musk again said that “only a few people understand the value of Tesla Bot,” and he believes that the humanoid robot can eventually increase economic output by an order of magnitude.
Electrek’s Take
Some of the critics of the Tesla Bot are missing an important point. Yes, it is unimpressive in many ways, especially if you compare the prototypes to what Boston Dynamics has shown so far.
I have seen dozens of comments similar to this one over the last few days:
Tesla just unveiled its much-hyped robot, which is meant to replace human laborers. There were 4 handlers to keep the robot from falling over.
— Dr. Jorge Caballero stands with ?? (@DataDrivenMD) October 1, 2022
But Tesla is not trying to make a robot as agile as Boston Dynamics’s products. The company is trying to make a robot that can be useful and manufacturable on a large scale in order to keep the costs down.
We don’t know how much Boston Dynamics’s bipedal robot costs, but we know they’re selling the much smaller dog robot for $75,000, so it’s fair to say that it would be much more expensive than Tesla Bot, which is supposedly going to be “less than $20,000.”
But it’s a fair question to ask about how useful the Tesla Bot could be. I think it’s clear that Tesla is focusing on a fairly high level of dexterity in the hands, the ability to move from one location to the next, and a high level of ability to understand and navigate its environment through Tesla’s computer vision capability.
I do think that there are many use cases for a robot being able to do that.
However, I just don’t understand Musk’s claims that “only a few people understand the value of Tesla Bot,” and I think it comes with a fundamental problem with Musk’s feedback loop.
Anyone who has spent any amount of time thinking about the value of a cheap, useful bipedal humanoid robot understands just how much value it would bring to the economy.
If there’s doubt about the project, there are mainly doubts about Tesla’s ability to deliver such a product, especially because of how behind the automaker is on its self-driving program.
Some skepticism on that front is healthy, but if Tesla can deliver on the product, then yes, the impact is going to be tremendous.
But it looks like Musk needs to reevaluate his own credibility when it comes to that stuff with anyone who is not a superfan. Tesla fans on Twitter telling him how great FSD Beta is and taking everything he says as the gospel is taking a toll.
It results in him thinking that people can’t see his vision just because they have doubts regarding whether or not he can deliver the vision.
Now he has this habit of retweeting people directly quoting him word for word and commenting something like “that’s true” or “exactly,” which is just bizarre.
Musk can deliver on his vision as he has done many times in the past, but he needs to better manage expectations because he has obviously done a terrible job at that with the Tesla Full Self-Driving program.
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Following approval from Transport Canada, EV startup Workhorse will be bringing the W56 and W750 model electric delivery vans to commercial truck dealers in Canada as early as this spring.
“This is a major step forward for Workhorse,” says Josh Anderson, Workhorse’s chief technology officer in a press statement. “Pre-clearance from Transport Canada opens up a large new market for our products throughout Canada, including with fleets that operate across borders in North America.”
Despite that uncertainty, Workhorse execs remain upbeat. “We’re excited that our electric step vans can now reach Canadian roads and highways, providing reliable, zero-emission solutions that customers can depend on,” added Anderson.
Canadian pricing has yet to be announced.
Electrek’s Take
FedEx electric delivery vehicle; via Workhorse.
There’s no other way to say it: the Trump/Musk co-presidency is disrupting a lot of companies’ plans – and that’s especially true across North American borders. But in all this chaos and turmoil there undoubtedly lies opportunity, and it will be interesting to see who ends up on top.
The new Liebherr S1 Vision 140-ton hauler is unlike any heavy haul truck currently on the market – primarily because the giant, self-propelled, single-axle autonomous bucket doesn’t look anything like any truck you’ve ever seen.
Liebherr says its latest heavy equipment concept was born from a desire to rethink truck design with a focus only on core functions. The resulting S1 Vision is primarily just a single axle with two powerful electric motors sending power to a pair of massive airless tires designed carry loads up to 131 tonnes (just over 140 tons).
The design enables rapid maintenance, as important components easily accessible for quick servicing. Wear parts can be replaced efficiently, and the electric drive significantly reduces maintenance work. This helps to minimise downtimes and increases operational efficiency.
LIEBHERR
Because of its versatility, durability, and ability to perform zero-turn maneuvers that other equipment simply can’t, the Liebherr S1 Vision can be adapted for various applications, including earthmoving, mining, and even agriculture. There’s also a nonzero chance of this technology finding applications supporting other on-site equipment through charging or fuel delivery.
The S1 accomplishes that trick safely with the help of an automatic load leveling system that ensures maximum stability, even on bumpy or rough terrain. The company says this technology significantly reduces the risk of tipping while providing smooth and secure operation across various environments.
The HD arm of Hyundai has just released the first official images of the new, battery-electric HX19e mini excavator – the first ever production electric excavator from the global South Korean manufacturer.
The HX19e will be the first all-electric asset to enter series production at Hyundai Construction Equipment, with manufacturing set to begin this April.
The new HX19e will be offered with either a 32 kWh or 40 kWh li-ion battery pack – which, according to Hyundai, is nearly double the capacity offered by its nearest competitor (pretty sure that’s not correct –Ed.). The 40kWh battery allows for up to 6 hours and 40 minutes of continuous operation between charges, with a break time top-up on delivering full shift usability.
Those batteries send power to a 13 kW (17.5 hp) electric motor that drives an open-center hydraulic system. Hyundai claims the system delivers job site performance that is at least equal to, if not better than, that of its diesel-powered HX19A mini excavator.
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To that end, the Hyundai XH19e offers the same 16 kN bucket breakout force and a slightly higher 9.4 kN (just over 2100 lb-ft) dipper arm breakout force. The maximum digging depth is 7.6 feet, and the maximum digging reach is 12.9 feet. Hyundai will offer the new electric excavator with just four selectable options:
enclosed cab vs. open canopy
32 or 40 kWh battery capacity
All HX19es will ship with a high standard specification that includes safety valves on the main boom, dipper arm, and dozer blade hydraulic cylinders, as well as two-way auxiliary hydraulic piping allows the machine to be used with a range of commercially available implements. The hydraulics needed to operate a quick coupler, LED booms lights, rotating beacons, an MP3 radio with USB connectivity, and an operator’s seat with mechanical suspension are also standard.
HX19e electric mini excavator; via Hyundai Construction Equipment.
The ability to operate indoors, underground, or in environments like zoos and hospitals were keeping noise levels down is of critical importance to the success of an operation makes electric equipment assets like these coming from Hyundai a must-have for fleet operators and construction crews that hope to remain competitive in the face of ever-increasing noise regulations. The fact that these are cleaner, safer, and cheaper to operate is just icing on that cake.