Tesla posts flat Q3, launches Optimus robot and envisions global passenger-miles dominance
Tesla CEO Elon Musk told investors in Austin, Texas that the company could handle the majority of global passenger miles if it can operate without regulatory restrictions, and he set a new timeline for unsupervised full-self-driving software. Earlier, Musk said demand for Tesla vehicles was outpacing production and unveiled plans for a Cybercab service in Dallas. Tesla also announced that its Fremont facility had begun manufacturing the Optimus humanoid robot, targeting scaled output and deliveries by the end of 2027.
The company reported a 43% drop in third-quarter net income, flat vehicle revenue and increased spending on AI and robotics. Analysts had expected third-quarter revenue to be roughly unchanged at about $28 billion, with earnings per share projected at $0. 45.
