[비즈한국] When I was a child and asked to draw a science fiction poster in art class, one of the things I frequently depicted was robots and flying cars. Back then, I used to wonder, "When will things like this actually exist?" but those things that once lived only in science fiction are rapidly becoming reality.
Tesla unveiled its robotaxi this month. Tesla CEO Elon Musk held the "We, Robot" event on the 10th (local time) at the Warner Bros. movie studio in Burbank, Los Angeles (LA), where he showcased the prototype of the 'CyberCab' for the autonomous robotaxi business. Musk arrived in the CyberCab, a vehicle without a steering wheel or pedals.
Musk stated, "Tesla will produce the CyberCab, which is optimized for autonomous transportation," and added, "We expect to manufacture it in large quantities by 2026, or at least before 2027." What once seemed like something out of a sci-fi movie is now nearing reality. Along with the robotaxi, Tesla also unveiled a 20-passenger robovan concept vehicle and the Optimus robot. Tesla envisions a future where humans and robots interact in the same space rather than being separated.
However, despite Tesla’s grand vision, the market reaction was one of disappointment. Song Sun-jae, an analyst at Hana Securities, said, "The event did not go beyond showcasing the necessity of AI and autonomous driving technology and the product lineup, much like a typical new car launch. It is regrettable that there was a lack of specific additional information, such as the current stage of technical progress and its competitive edge compared to rivals." Lee Jae-il, an analyst at Eugene Investment & Securities, also noted, "Because the technical barriers to the vision Tesla presented are so high, doubts regarding its feasibility have grown even further."
Secondary battery-related stocks, including Tesla, had maintained an upward trend until Tesla unveiled the robotaxi. In particular, Tesla's stock price exceeded $260 late last month. However, the stock began to plummet after the robotaxi reveal, falling to $213 on the 14th.
With the robotaxi momentum fading, the market is now turning its attention to Tesla’s third-quarter earnings report on the 23rd. The market outlook for these earnings is not bright due to concerns over profitability stemming from the slowdown in electric vehicle demand. Analyst Song Sun-jae said, "Third-quarter sales volume has already shown a recovery to 463,000 units, but it is necessary to check whether profitability has also recovered by seeing if the third-quarter automotive gross margin rose above 19%."
Nevertheless, some suggest that mid-to-long-term investment in Tesla remains positive. Ko Min-sung, an analyst at NH Investment & Securities, explained, "While a short-term decline in Tesla’s stock price is expected following the robotaxi event, this price correction should be utilized as a buying opportunity. Although there were some disappointing aspects regarding the launch timeline, this event allowed us to visibly confirm the competitiveness of their Unsupervised FSD and the CyberCab." Analyst Ko pointed out, "Since the potential added value of the autonomous driving industry and Tesla’s technical competitiveness remain high, the mid-to-long-term investment direction remains valid."
Expectations for secondary battery stocks also remain alive. Secondary battery stocks are considered primary beneficiaries of Democratic candidate Kamala Harris. Lee An-na, an analyst at Yuanta Securities, forecasted, "Although short-term volatility in the secondary battery sector is inevitable due to the disappointment over the robotaxi and incidents like fires, I recommend maintaining rather than reducing exposure to the sector. If Harris is elected (president), it is highly likely that secondary batteries, including the Tesla supply chain, will become a leading sector." She also advised, "The Tesla supply chain is also favorable even if Trump is elected. Due to still-high valuations and industry uncertainty, it is necessary to be selective about when to maintain positions and which companies to invest in."