Tesla stars Optimus robot production in California as profit falls 43%
Tesla has started production of its Optimus humanoid robot at its Fremont, California factory, the manufacturing space once dedicated to making electric vehicles, the company announced Wednesday.
“The bots coming off this line are the first production-quality bots that we have manufactured,” Tesla wrote in its third-quarter letter to shareholders. “While we will continue to iterate on the hardware and manufacturing process, we have proven that the current manufacturing process for Optimus is suitable for a commercial product.”
That future-looking development wasn’t enough to lift up company’s otherwise middling third-quarter earnings, results that typify a company at the midpoint of a major bet. Tesla’s revenue was flat and its expenses skyrocketed as it pressed the accelerator on its Optimus robots, AI, and autonomous driving. The end result was a 43% drop in profits.
The company’s revenue was largely driven by the sale of its EVs, which was flat year-over-year at...
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