Tesla Begins Optimus Robot Production in California as Quarterly Profit Falls 43%
· Technology · TechCrunch, Ars Technica
Tesla has commenced commercial production of its Optimus humanoid robot at its factory in Fremont, California. The company announced that the initial units rolling off the line are its first production-quality bots. Despite this manufacturing milestone, Tesla reported a 43% drop in third-quarter net income to $787 million, down from $1.37 billion a year earlier. Total quarterly revenue remained flat at $28.04 billion, weighed down by heavy spending on artificial intelligence and autonomous driving initiatives. Vehicle deliveries reached 486,532 units, while its services segment delivered a record $734 million in gross profit.
Why it matters
Tesla's heavy capital expenditure on robotics and artificial intelligence directly squeezes near-term profitability while betting on long-term automation.
Read the original report — TechCrunch
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