Tesla currently sources most of its EV batteries from other companies, but has been trying to ramp up production of its 4680 battery cells in the US to lower costs and boost margins.
"If we can automate a lot of the production, we can actually bring jobs back to this country and we can compete on price," Standard Bots CEO Evan Beard said of building robots to do menial factory ...
Just 5% of jobs will be replaced or heavily assisted by artificial intelligence within the next decade, according to calculations by Daron Acemoglu, an economist and professor at MIT.
The closing of the funds coincides with the company's ongoing restructuring efforts and executive changes, including the abrupt departure of its longtime Chief Technology Officer last week.