In response to these challenges, Musk is promoting Tesla's work in robotics and AI, suggesting that the company should be viewed as an AI or robotics company rather than just an auto company. He also announced a price reduction for Tesla's Model 3, S, X, and Y in China, where the company faces strong competition. Despite his optimism, Musk has previously missed his own targets for the rollout of self-driving cars.
Key takeaways:
- Elon Musk, Tesla's CEO, believes that the company's Optimus robots could become its most valuable asset, capable of performing simple factory tasks and potentially being sold externally by the end of next year.
- Tesla is currently struggling with declining sales, with a 9% year-over-year drop in quarterly revenue and a 20.1% drop in car deliveries from the previous quarter.
- Musk is attempting to reposition Tesla as an AI or robotics company, rather than just an auto company, and has teased a new robotaxi concept for its vehicles.
- Despite these efforts, Musk has a history of setting and missing targets for Tesla's self-driving car technology, including a 2019 prediction of 1 million autonomous robotaxis on the road by 2020.