Tesla lagging behind its target to produce 5,000 Optimus robots
What's the story
Tesla is falling short of its ambitious target to produce at least 5,000 units of its Optimus humanoid robots this year. According to a report by The Information, the company has only produced a few hundred bots in the last eight months. This puts them far behind their goal and raises questions about whether they will have to ramp up production or extend deadlines.
Financial hurdles
Decline in Tesla's overall revenue for Q2
The production delay comes on the heels of a 12% drop in Tesla's overall revenue for Q2. The decline was attributed to lower EV sales, reduced income from regulatory credits, and a slump in solar and energy storage sales. Despite these challenges, CEO Elon Musk remains optimistic about the future of Optimus bots. During Tesla's Q2 earnings call, he announced plans to start production of the latest Optimus 3 design by early next year.
Production plans
Musk's ambitious target for Optimus bot production
Musk has set an ambitious target for Tesla's Optimus bot production. He said, "We will scale Optimus production as fast as possible and try to get to a million units a year as quickly as possible." Musk also added that he thinks they can achieve this in less than five years. However, these claims aren't new from Musk, who had previously made similar bold predictions about robotaxis that didn't materialize on time.