Oriental Securities has released a research report noting that Tesla (TSLA.US) recently announced progress on its Optimus robot, whose limbs and torso are now covered with a flexible protective outer layer, giving it a more human-like form. This outer layer can protect the equipment and reduce risks in human-robot interaction. It possesses attributes of non-standard tools, characteristics of consumables, and potential emotional value, and is expected to become a promising emerging market with long-term potential as robot applications become widespread. The main views of Oriental Securities are as follows:
Tesla's Optimus robot has unveiled new developments in its skin-like outer layer. On January 16, 2026, Tesla CEO Elon Musk posted the latest progress of the Tesla Optimus robot on his social media. A significant marginal change in the robot's appearance is that its limbs and torso are no longer exposed metal shells but are now equipped with a new flexible protective outer layer structure resembling clothing, making the overall form more anthropomorphic.
There is also new progress in the robot's hands and feet. It can be observed that the robot's hands are similarly wrapped in a flexible outer layer, while the feet have new protective structures akin to shoes or boots, which the institution speculates are mainly for protection and cushioning. The institution believes that with breakthroughs in the downstream application scenarios of humanoid robots in the future, especially in consumer service scenarios requiring human interaction, products like the robot's flexible protective outer layer and skin-like gloves are expected to encounter market opportunities.
The flexible protective outer layer of the robot can protect the equipment while simultaneously reducing safety risks in human-robot interaction. Domestic manufacturers have already made certain progress. The flexible protective outer layer specifically refers to the robot's "garment" that does not contain sensors; it does not conflict with electronic skin that incorporates sensors. As the value of electronic skin increases in the future, demand for flexible protective outer layers that can protect this electronic skin is expected to rise.
On one hand, the flexible protective outer layer can protect the equipment. Humanoid robots will still face various situations such as falls and collisions. A full-body flexible protective layer can provide support and protection, preventing equipment damage, especially to key components like dexterous hands. On the other hand, the flexible protective outer layer can protect human safety in scenarios involving collaboration between people and robots.
Combining functionality with consumable attributes and emotional value, the flexible protective outer layer track represents a long-term, promising market. There is currently strong consensus in the market that mass production of robots will drive demand for core components. However, there might be potential cognitive differences regarding the flexible protective outer layer. The institution believes the basis for viewing this track as having long-term potential lies in: 1. Non-standard tool attributes. The institution previously expressed the view that the types of flexible materials potentially applicable to robotic electronic skin could also be suitable for the flexible protective outer layer. Currently, the non-standard nature of the outer layer is strong, with no industry-wide standardized solution for material selection or structural design. Furthermore, the equipment dimensions vary among major robot OEMs. Companies capable of providing samples and achieving mass production first are likely to replicate their solutions at scale within the industry, gaining a first-mover advantage.
2. Consumable attributes. Analogous to clothing for humans, the flexible protective outer layer is expected to become the daily attire for robots. Daily use will cause consumption and wear, leading to a higher replacement frequency and a larger market space. 3. Referring to the development history of automobiles and mobile phones, as robot applications become widespread, consumers are likely to demand more customization for the device's appearance. For consumers, the flexible protective outer layer will potentially possess emotional value, which will further drive market expansion.
Investment recommendations and targets: Mass production of humanoid robots is expected to bring incremental market growth for flexible protective outer layers, boosting order growth for related manufacturers. Related targets include Heng Hui An Fang, Mei Rui Xin Cai, and Nan Shan Zhi Shang.
Risk warnings: Progress in the mass production of flexible protective outer layers may fall short of expectations; mass production by humanoid robot manufacturers may fall short of expectations.
Comments