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Ron Baron, a longtime Tesla champion, said he believes the electric vehicle company’s robotics business will be hugely profitable and that it’s not yet priced into the stock. “Tesla, I think in the next 15 years, next 10 years, we’re going to make four or five, six times our money, but I can’t even put a top on how much we’re going to make … because its robotics business is going to be unbelievable,” the Baron Capital chairman and CEO said on CNBC’s ” Squawk Box ” on Wednesday. Tesla is developing autonomous vehicles and humanoid robots, with CEO Elon Musk saying his goal is to make his firm “a leader in AI & robotics.” Musk previously said his EV company will reveal its robotaxi design Aug. 8. Musk has promised a robotaxi for years, but has not yet delivered on his self-driving promises. On an April earnings call, Musk mentioned that the company’s robotaxi will be called the CyberCab . “We’re going to get charged every year for software, for using your robot, it’s going to keep getting better and better and better,” Baron said. “Everyone’s lives is going to be dramatically better because of AI and because of robotics. Robotics, you’re going to be a really big deal for Tesla. And that is not in the stock in any way, shape or form.” Baron has been a longtime Tesla bull, with his firm making about 20 times its investment in Musk’s company since he first bought the stock in 2014. Tesla is the biggest holding in Baron’s oldest and biggest fund, Baron Partners Fund (BPTIX), accounting for nearly 30% of the portfolio. Also on Wednesday, Baron wrote an open letter in support of Musk’s controversial $56 billion pay package .
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