You can use expect scripts instaed of bash. Below example show how to telnex into an embedded board having no password
#!/usr/bin/expect
set ip "<ip>"
spawn "/bin/bash"
send "telnet $ip\r"
expect "'^]'."
send "\r"
expect "#"
sleep 2
send "ls\r"
expect "#"
sleep 2
send -- "^]\r"
expect "telnet>"
send "quit\r"
expect eof