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Good morning dear Getquin community 👋

Today I would like to introduce you to The Humanoid 66 and what it's all about. The market for humanoid robotics is just taking off and is facing one of the biggest upheavals since the advent of the automobile. Morgan Stanley and Goldman Sachs expect the market to be worth between 38 billion and three trillion US dollars by 2035. By 2050, over 60 million humanoid robots could be in use in the USA alone.

With The Humanoid 66, Morgan Stanley has compiled a list of 66 companies that are likely to benefit directly or indirectly from this development. These include not only the manufacturers themselves, but also suppliers and technology groups that provide the necessary infrastructure, from semiconductor and battery producers to sensor technology and software through to platform operators for artificial intelligence.

The leading players include $TSLA (+1,82%) Tesla with Optimus, Figure AI with Figure 02, Agility Robotics with Digit, Boston Dynamics with Atlas and Unitree with H1 and G1. Tesla is already planning to use more than a thousand Optimus robots in its own factories by 2024. The goal is clear: to make humanoid machines suitable for mass production at prices between 20,000 and 30,000 US dollars. Figure AI works closely with $MSFT (-0,03%) Microsoft, OpenAI and $BMW (+0,54%) BMW and was able to raise over 675 million US dollars in a financing round.

Technological progress is the key driver of this development. Multimodal generative AI enables humanoid robots to understand speech, communicate with humans and perform tasks autonomously. Advances in actuator technology, LiDAR systems, force sensors and battery technology are making the machines more efficient and more human-like. The energy density of modern lithium-ion cells is increasing by around 20 percent every two years, while the cost per kilowatt hour is expected to fall to 80 US dollars by 2030.

At the same time, wage costs for human labor are rising significantly. In the USA, they currently stand at just under 40 US dollars per hour, while in China they are around 6.50 US dollars and in India 4.45 US dollars. Studies show that automation can reduce labor costs in industrialized countries such as Germany, Japan and the USA by up to a third by 2025. Sectors such as agriculture, construction, care, logistics and manufacturing, where millions of jobs remain unfilled today, will be particularly affected.

The Humanoid 66 shows that this change goes far beyond individual companies. A new industrial ecosystem is emerging that links hardware, software, energy and data. Price reduction, scalability and integration into existing value chains will determine who will be among the winners.

Takeaway: Humanoid robotics is no longer a vision of the future, but the beginning of a structural reorganization of the global economy. Those who invest early in key areas such as AI chips, batteries, sensor technology and automation are positioning themselves in a sector that is likely to have a similarly profound impact as the invention of the car. The crucial question is just how far society is prepared to accept and integrate this new form of workforce.

For those who want to delve deeper: These are the companies featured in the Morgan Stanley report Humanoids @Tenbagger2024
@Multibagger

1. Tesla - USA - $TSLA (+1,82%)

2. Toyota - Japan - $7203 (-0,27%)

3. Xpeng - China - $XPEV (+0,82%)

4. Naver - South Korea - (not listed)

5. CATL - China - $3750 (-1,16%)

6. LG Energy Solution - South Korea - $373220 Subsidiary of LG

7. Samsung / Samsung SDI - South Korea - $SMSN (-0,17%)

8. SK Innovation - South Korea - $096770

9. HD Hyundai Infracore / Doosan (component) - South Korea - $042670

10. Hengli Hydraulic - China - $601100

11. NTN - Japan - $6472 (+0%)

12. NSK - Japan - $6471 (+1,37%)

13. Sanhua - China - $002050

14. Siemens - Germany - $SIE (-0,37%)

15. Top Group ("Topu") - China - $601689

16. Ambarella - USA - $AMBA (+4,91%)

17. Synopsys - USA - $SNPS (+0,03%)

18. NXP - Netherlands / USA - $NXPI (+1,07%)

19. Qualcomm - USA - $QCOM (+0,21%)

20. TSMC - Taiwan - $TSM (+0,6%)

21. Wolfspeed - USA - $WOLF

22. ARM - UK - $ARM (+1,05%)

23. onsemi - USA - $ON (-0,34%)

24. cadence - USA - $CDNS (+2,04%)

25. STMicroelectronics - Netherlands - $STM (-12,4%)

26. NVIDIA - USA - $NVDA (+1,16%)

27. SK hynix - South Korea - $HY9H (+2,78%)

28. sociionext - Japan - $6526

29. SMIC - China - $0981

30. infineon - Germany - $IFX (-2,31%)

31. Renesas - Japan - $6723 (-2,29%)

32. Dassault Systèmes - France - $DSY (-10,66%)

33. Mobileye - Israel / Intel ecosystem - $MBLY

34. Hexagon - Sweden - $HEXA B (+0,97%)

35. Knight Transportation - USA - $KNX (-7,33%)

36. DSV - Denmark - $DSV (+7,28%)

37. Werner Enterprises - USA - $WERN (-3,28%)

38. DHL Group - Germany / international - $DHL (-0,67%)

39. Kuehne + Nagel - Switzerland - $KNIN (-0,33%)

40. Obayashi - Japan - $1802 (+0%)

41. China State Construction Engineering Corporation (CSCEC) - China - $601668

42. RBG (presumably an Asian construction company) - (not listed)

43. Shimizu - Japan - $1803 (+0,87%)

44. Taisei - Japan - $1801 (+0,4%)

45. Baker Hughes - USA - $BKR (+4,1%)

46th SLB (Schlumberger) - USA - $SLB

47. Tenaris - Luxembourg / multinational - $TEN (+3,67%)

48. Halliburton - USA - $HAL (+3,31%)

49. amazon - USA - $AMZN (+1,02%)

50th Coupang - South Korea $CPNG (-0,06%)

51. JD.com - China - $JD (+2,06%)

52. BMW - Germany - $BMW (+0,54%)

53rd Mercedes-Benz - Germany - $MBG (+0,83%)

54th General Motors - USA - $GM (-0,38%)

55. BYD - China - $1211 (+1,84%)

56. Stellantis - NL / multinational - $STLAM (-0,27%)

57. Ford - USA - $F (+4,11%)

58. McDonald's - USA - $MCD (-0,98%)

59th Domino's - USA - $DPZ (-0,74%)

60. BGF Retail - South Korea - $282330

61. GS Retail - South Korea - $007070

62nd Lotte - South Korea - $004990

63. Yum China - China - $YUMC (+1,08%)

Source: Morgan Stanley Research Bluepaper Humanoids Investment Implications of Embodied AI and Stock3 drumbeat of Germany's humanoid robot manufacturers The Humanoid 66, 05.10.2025

https://api.guidants.com/db/e6/4/e134c52068e8c98a.pdf

CATL $3750 (-1,16%)the world's largest battery manufacturer, is betting big on battery swapping as the next challenge in electric vehicle infrastructure, challenging the leadership position of carmaker Nio and reviving a concept once rejected by Tesla.

At a demonstration in Shanghai last week, the Ningde-based company showed how its "Choco Swap" stations can automatically swap out a dead battery in 70 to 80 seconds, with official specifications calling for a 99.99% success rate.

In contrast, a battery change on Nio's latest fourth-generation stations usually takes around three minutes.

With pilot trials of the fifth-generation stations due to begin in December, the company is expected to further reduce swap times, continuing the trend seen with each new generation.

CATL's strategy is based on standardized, universal battery packs that are suitable for different brands and vehicle classes.

The first two product families, launched last December, include 42 kWh and 56 kWh lithium iron phosphate (LFP) packs and 52 kWh and 70 kWh nickel cobalt manganese (NCM) packs with a range of 400 to 600 km.

The batteries are modular and can be rented, exchanged or upgraded so that car buyers can purchase a vehicle without a battery, reducing the purchase costs by up to a third.

The stations store 14 batteries depending on the configuration and are compatible with vehicles with a wheelbase of 2.55 m to 3.10 m - from compact saloons to larger mid-size cars.

In future generations, CATL is aiming to store 30 batteries in each station.

Each system also integrates charging functions and is designed to enable battery-to-grid services, so that energy can be stored and redistributed at times of low demand.

CATL has already installed more than 500 exchange stations in 34 Chinese cities, 105 of which were installed in August alone.

The company is targeting 1,000 stations by the end of this year, another 2,500 in 2026 and more than 2,000 new stations in 2027, covering more than 100 cities.

By comparison, Nio opened its first station at the beginning of 2018 and has since built around 3,500 stations in seven and a half years.

The battery manufacturer is aiming for a network so dense that a station is available every 3 to 5 km in urban areas, with each station able to handle 500 to 700 changes per day once private vehicles are added to the current taxi-focused operations.

The roll-out was deliberately fast. CATL says it can select, approve and build a new station within a month, although the process is expected to take longer in overseas markets - particularly in Europe.

Unlike Nio $9866 (+0,46%)which initially built a network around its own vehicles, CATL is working with multiple car manufacturers from the outset to ensure wider compatibility.

The first Choco Swap-enabled models are expected to hit the market from 2025, including the Aion S sedan from GAC, the E-QM5 from Hongqi and the Roewe D7 from SAIC.

Further vehicles from BAIC, Chang'an, Wuling and SAIC's Rising brand are expected from 2026.

Nio, which pioneered this technology in China, operates more than 3,500 exchange stations in its home market and 61 in Europe, mainly in Germany and Norway.

The fifth-generation stations, scheduled to go into operation in 2026, will increase storage capacity beyond the current 23 batteries per site, a spokesperson for the EV battery swap division said.

However, expansion in Europe has slowed: earlier this year, Nio Power's team on the continent was reduced to just five employees, delaying further rollout.

The company has deepened its relationship with CATL, agreeing to a 2.5 billion yuan (US$345 million) investment in Nio Power from the battery company in March.

The two companies are also supporting Weilan, a battery start-up whose share capital tripled in May, as part of a joint research and development initiative.

CATL has said it will eventually launch the system in Europe, but executives said last week that the focus remains on China for now as there are "many challenges" overseas.

Vice president Jiang Li told the Financial Times earlier this year that the business model could be "copied" overseas once the domestic rollout is mature.

The company's relationships with Ford $F (+4,11%), Tesla $TSLA (+1,82%), BMW $BMW (+0,54%), Volkswagen $VOW (-0,33%) and Stellantis - all current customers of CATL batteries - could pave the way.

Stellantis $STLAM (-0,27%)which is building a €4.1 billion battery factory in Spain in partnership with CATL, has already started testing Fiat 500e vehicles with swappable batteries in Madrid through its Free2move mobility service, using technology from Californian start-up Ample.

For CATL, battery swapping offers both a hedge against slowing growth in demand for EV batteries and an opportunity to enter the consumer-facing infrastructure.

$HEIA (-1,21%)
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$WM (-0,38%)
$MSFT (-0,03%)
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$MRK (-0,73%)
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$BCS (+1,43%)
$META (+0,13%)
$BABA (+3,86%)
$QCOM (+0,21%)
$AIR (+0,85%)
$HSBC (+0%)
$GSK (+1,9%)
$MBG (+0,83%)
$F (+4,11%)
$AAPL (+0,3%)
$AMZN (+1,02%)
$MA (-0,01%)
$7203 (-0,27%)
$SHEL (+2,04%)
$005930
$SNY (-0,93%)
$CMCSA (-0,32%)
$COIN (+0,61%)
$NET (+3,26%)
$XOM (+0,95%)
$CVX (+0,47%)
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Hello Getquins,

As always, I'm starting my summer a little early with a vacation. This time it's not Asia but surprisingly :-) the USA.

As it's my first vacation in this country (otherwise only on business) I'm taking advantage of other opportunities, not just the company and hotel.

$ROST (-0,34%) The shares of the company are very strong here and were not known to me as a share, the turnover, profit and share price in the past are very lucrative.

My investment $PEP (-1,25%) I hardly see here except for sweets like Lay Chips but $KO (-1,23%) is the leading beverage here.

I have $TSLA (+1,82%) and am surprised at the company empire, the South African is doing (almost) everything right. His company Space X (now also rockets), the Boring Company opposite and batteries under construction for houses, companies and cities are a large portfolio.

They build like mad here, whether streets $CAT (+1,47%)

$DE (+1,66%) or entire residential areas with several hundred houses.

The integration of South Americans has been properly implemented here, you can see them working in construction, with the cleaning crew or as handymen in the trades. Whether this will work in Europe with state support is questionable, but it's a different topic.

Almost 90% of people here have $AAPL (+0,3%) iphone, $F (+4,11%) pickups or $GM (-0,38%) a few European ones can also be seen here $VOW (-0,33%)
$BMW (+0,54%)

The bar culture, restaurants and dinners are very popular.

$BOM

Of course there is a huge $WMT (-0,47%) and next to it the $CVS (-1,28%)

Best regards and hope you had Easter or soon Whitsun vacation.

So long

Smudo

Trump calls Fed chief a fool after decision + US auto industry criticizes Trump's deal with UK + Half of high-tech chips to come from US + Trade Desk beats expectations for first quarter

Trump calls Fed chief a fool after decision

• US President Donald Trump has called Fed Chairman Jerome Powell a fool following the Federal Reserve's decision to leave the key interest rate unchanged for the time being.
• "Jerome Powell is a fool who has no idea", Trump wrote on his Truth Social platform.
• He had already attacked Powell several times in the past, calling him a "loser" or "Mr. Too Late".
• The Fed had been on a collision course with Trump, who is vehemently calling for interest rate cuts, the day before.
• In view of Trump's aggressive tariff policy, it had opted for a wait-and-see approach and does not want to commit to cutting interest rates any time soon.
• "We have to wait and see how the situation develops," said Fed Chairman Powell when asked by a reporter whether the central bank should cut interest rates at all this year.
• The Fed left the key interest rate at a high level in the range of 4.25 to 4.5 percent.

US car industry criticizes Trump's deal with the UK

• US President Donald Trump's trade pact with the UK has gone down badly with the US automotive industry.
• The reason for this is the reduction in import duties for 100,000 British cars from 25 to 10 percent.
• This would favor manufacturers from the UK over their own industry, criticized the industry association AAPC.
• It represents the big three US car manufacturers: Ford $F (+4,11%) , General Motors $GM (-0,38%)and the Stellantis Group $STLAM (-0,27%)with brands such as Jeep and Dodge.
• Trump's government had imposed tariffs of 25 percent on imported vehicles and components.
• The US manufacturers produce some car models in Mexico and Canada and also source parts from there for production in the USA.
• A large proportion of these are initially exempt from the tariffs as long as the requirements of the USMCA free trade agreement are met.
• Association sees damage for US industry
• Over time, however, the foreign components of USMCA-compliant imported vehicles will also be subject to a 25 percent tariff.
• The trade pact will make it cheaper to bring a British car to the USA than a vehicle from Canada or Mexico, half of which consists of US parts, criticized the association.
• This would harm American manufacturers, suppliers and employees.
• Trump's Secretary of Commerce Howard Lutnick had argued that 100,000 vehicles only made up a small part of the US car market but were a relevant amount for British manufacturers such as Rolls-Royce, Bentley, Jaguar and Land Rover.

US Secretary of Commerce: Half of high-tech chips to come from the USA

• US President Donald Trump's administration has set a new ambitious target for the semiconductor market: 50 percent of modern high-tech chips are to be produced in the USA.
• This should give the country the "firepower" to develop artificial intelligence, said Secretary of Commerce Howard Lutnick on US broadcaster CNBC.
• The majority of chips have been produced in Asia for decades.
• The most modern semiconductors for smartphones or AI data centers, for example, come from Taiwan from contract manufacturer TSMC $TSM (+0,6%).
• There is great concern in the West that China could cut off supplies.
• Trump's predecessor Joe Biden therefore tried to bring more production to the USA.
• His government promised subsidies of around 39 billion dollars (35 billion euros) for this, and several plants are currently being built.
• Trump criticized the aid as a waste of money and wants to focus on tariffs instead.
• Restrictions on the export of US chips At the same time, Trump's government under Biden overturned export barriers for AI technology.
• Export restrictions were planned for many countries - to prevent chips and software from reaching countries such as China via detours.
• Lutnick criticized that this would have cut off allies such as Poland from modern US technology.
• The Trump administration has a different approach.
• According to this, chip deliveries should be permitted if they come to data centers of US operators, said Lutnick.
• As a second requirement, the data center would have to be connected to a cloud infrastructure "from someone we trust".

The Trade Desk $TTD (+0,26%)exceeds expectations for the first quarter thanks to strong demand for advertising technology

• Trade Desk released first-quarter revenue and earnings figures on Thursday that beat analysts' expectations thanks to strong demand for automated ad-buying technology.
• The company's shares rose by 14% in after-hours trading.
• The advertising company's strong results come at a time when companies are reducing their marketing spending due to prevailing recession fears and the uncertain economic situation.
• The advertising platform offers advertisers access to an extensive network of publishers and media partners across a range of industries, enabling them to target their advertising campaigns with precision.
• The Trade Desk is expanding support for its advertising ID "Unified ID 2.0" (UID2), which it says is more privacy-focused and an improvement and alternative to third-party cookies.
• Revenue increased by 25% to USD 616 million in the first quarter, exceeding estimates of USD 584 million, according to data from LSEG.
• On an adjusted basis, the company posted earnings of 33 cents per share for the quarter, above estimates of 25 cents.
• Trade Desk, which has partnerships with retailers such as Walmart, is forecasting second-quarter sales of at least $682 million, slightly below analysts' average estimate of $683.2 million.

Friday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• Allianz EUR 15.40
• MTU Aero Engines EUR 2.20
• Talanx EUR 2.70
• IBM USD 1.68
• Mensch und Maschine Software EUR 1.85
• Kuehne + Nagel International 8.25 CH
• Pfizer 0.43 USD
• Walmart 0.24 USD

• Quarterly figures / company dates USA / Asia
• 16:00 Colgate-Palmolive | AbbVie AGM

• Quarterly figures / company dates Europe
• 07:00 Commerzbank | Krones Quarterly figures
• 07:30 Bechtle quarterly figures
• 08:00 PNE AG | International Consolidated Airlines Quarterly figures
• 09:00 Commerzbank Analyst Conference
• 10:00 Drägerwerk AGM | PNE AG Analyst and Press Conference
• 10:30 Commerzbank | Bechtle PK
• 11:00 Villeroy & Boch AGM
• 13:00 Krones Analyst Conference

• Economic data

04:00 CN: April trade balance PROGNOSE: +97.60bn USD previous: +102.64bn USD Exports PROGNOSE: +2.5% yoy previous: +12.4% yoy Imports PROGNOSE: -5.5% yoy previous: -4.3% yoy

12:45 IS: Fed Governor Barr and Fed Governor Kugler (14:30) and Fed Governor Waller (17:30) et al, Reykjavik Economic Conference

14:30 US: Fed Richmond President Barkin to participate in Loudon County Chamber of Commerce Fireside Chat

16:00 US: Fed-Chicago President Goolsbee, attends Fed list-serve event

17:30 US: Fed Richmond President Barkin, attends Greater Washington Board of Trade event

No time specified:

- DE: Start of the trade fair "Invest - the financial event for your future ", Stuttgart

- RU: China's President Xi, visit to Russia

- FR: France's President Macron and Poland's Prime Minister Tusk sign defense agreement