From the Wall Street Journal, September 2:
Musk has encouraged investors to focus on a future of autonomous vehicles and robots
Elon Musk said Tesla’s humanoid robot Optimus will eventually be driving most of the company’s value, as the tech giant shifts its focus to robots.
In a post on his X account, Musk wrote that “80% of Tesla’s value will be Optimus” in response to a user asking about the Austin, Texas, company’s long-term strategy.
In the second quarter, automotive revenue made up about 74% of total sales, but profit fell as its vehicle sales continued to slide downward. The company is also set to lose several electric-vehicle incentives due to a new U.S. budget bill, which Musk has criticized.
Musk instead encouraged investors to focus on a future of autonomous vehicles and robots, which he believes would be the source of much of the company’s revenue going forward. Tesla launched a fleet of robotaxis in June.
The electric-vehicle company aims to scale its Optimus production to 1 million units a year within the next five years, Musk said during a Tesla earnings call in July. Optimus 3 prototypes are due to launch by the end of this year, he said....
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Again, he saw something a few years ago that spooked him about the long-term viability of the Western EV business.
