It's no secret to anyone paying attention. The EV business is basically dead, and they're getting their asses kicked by Chinese competition.

Robotics is the new focus. Depending on who you ask (and how well they execute), this will either be another grift for bagholders or exactly the right move to capture a massive emerging industry.

I do think people are massively underestimating robotics. The convergence of LLMs and robotics will be the next great wave of AI, unlocking an enormous boom in productivity across the economy.