15 Best Humanoid Robot Stocks That Will Ride A $30 Trillion Opportunity According To Morgan Stanley

2. General Motors Company (NYSE:GM)

Number of Hedge Fund Investors  in Q1 2024: 78

General Motors Company (NYSE:GM) is one of the biggest car manufacturers in the US. Despite its heft, the firm has lagged in the EV race and it is playing catch up with Tesla. However, while Tesla’s moves in the humanoid robot industry through Optimus are well known, General Motors Company (NYSE:GM) also has somewhat similar competitive advantages. This is because it is the only car company in the world whose humanoid robot has been used in space. General Motors Company (NYSE:GM) partnered up with NASA to develop the Robonaut 2 robot in 2007, which spent years working on board the International Space Station (ISS). General Motors Company (NYSE:GM) expanded its partnership with NASA on humanoid robots in 2023, providing it with the agency’s key technological know how which it can use to benefit from the robots in its manufacturing plants. This might prove to be pivotal, as General Motors Company (NYSE:GM) has to catch up with Tesla to expand its share of the EV market in the future.

Diamond Hill Capital mentioned General Motors Company (NYSE:GM) in its Q1 2024 investor letter. Here is what the fund said:

“Automobile manufacturer General Motors continues capitalizing on the shift to electric vehicles (EVs) while maintaining the strength of its core gas-engine truck and SUV business. Though it has experienced some setbacks — such as needing to roll back its Cruise driverless car project — we believe the company remains well- positioned relative to secular tailwinds within the automobile business.”