Tesla Commences Optimus Robot Production Amid 43% Decline in Third-Quarter Profits
Tesla has officially begun production of its first production-quality Optimus humanoid robots at its Fremont, California facility. While the company views this as a successful validation of its manufacturing processes for commercial products, the heavy investment in AI and robotics contributed to significant financial pressure. The company reported a 43% year-over-year drop in net income, falling to $787 million from $1.37 billion in the previous year. Total revenue reached $28.04 billion, remaining largely flat compared to prior periods. While EV sales and solar/energy storage segments faced headwinds or stagnation, Tesla's services business saw robust growth of 33%, driven by Full Self-Driving subscriptions.
Tickers: $TSLA
Topics: AI investment earnings report EV sales profit decline robotics
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