A mock-up of Tesla’s planned humanoid robot Optimus at the Seoul Mobility Show held in Goyan, Korea on Thursday, March 30th, 2023. The motor show will continue until April 9th.
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Tesla CEO Elon Musk predicted that Optimus Robots, which is not yet on the market, would ultimately constitute more than three-quarters of the value of his automaker.
In X’s post on Monday, Musk wrote, “~80% of Tesla’s value will become Optimus.” In mid-2024, Musk predicted that Optimus Robots would one day turn Tesla into a $25 trillion company. S&P 500 Time for his comment.
With Tesla in the midst of multi-quarter sales slump due to low-cost Chinese competitors, aging lineup of electric vehicles, Musk’s inflammatory political rhetoric and involvement with the Trump administration, the world’s wealthiest people are looking to look at the future on Wall Street.
For Tesla, its dream revolves around a world filled with artificial intelligence-powered robotaxies and humanoid robots.
“It’s important to note that Tesla is far superior in the world with real-world AI,” Musk said during the company’s second quarter conference call with analysts in July.
The problem with Tesla is that they are behind in these major markets.
At Robotaxis, Tesla began testing in Austin, Texas and San Francisco. alphabet Waymo lives in numerous markets and reached 10 million paid trips in May. Baidu’s Apollogo lives in China.
Meanwhile, the competition in humanoid robots comes from things like Chinese companies like Unitree, which won multiple medals in the world humanoid robot games. Other spaces include Boston dynamics, agility robotics, Apptronik, 1x, and diagrams.
Musk said in March that Tesla plans to build 5,000 Optimus robots this year. On the first quarter shareholder deck, Tesla said “it is the target of the 2025 Fremont Pilot production line Optimus build, and the wider deployment of the bots is doing useful work in the factory.”
Tesla recently lost someone who runs the department.
Milan Kovac, vice president of Tesla’s Optimus Robotics, announced his departure in June nine years later with the company.
Tesla is developing Optimus with the aim of one day selling it as a bipedal intelligent robot that can do everything from factory work to babysitting.
– Lora Kolodny of CNBC contributed to this report.
