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Tesla shares crash after Elon Musk showcases Optimus humanoid robot

Optimus will cost around $20,000 to $30,000 in the long term, stated Elon Musk
Tesla shares crash after Elon Musk showcases Optimus humanoid robot
Musk promised the audience that the company’s Model 3 and Model Y vehicles would be able to operate without driver supervision in California and Texas by next year (Image: Tesla)

Optimus humanoid robots took center stage in Tesla’s latest launch of the new Robotaxi and Robovan. Tesla CEO Elon Musk showcased the robot at the ‘We, Robot’ event in a video doing daily human tasks including bringing packages and watering plants.

“The Optimus will walk amongst you. You’ll be able to walk right up to them, and they will serve drinks,” Musk said. Tesla’s CEO explained that Optimus can do anything including walking your dog, babysitting your kids, and mowing your lawn. He added that the Optimus will cost around $20,000 to $30,000 in the long term.

During the event, Musk noted that the company has made significant advancements with Optimus in the last two years, making it a product that “anyone could own”.

Back in April, Musk suggested that Optimus could be deployed in Tesla’s factories by the end of 2024.

Robotaxi and Robovan unveiled

After making his entry in the Warner Bros movie studio in the two-door Robotaxi, Musk promised the audience that the company’s Model 3 and Model Y vehicles would be able to operate without driver supervision in California and Texas by next year.

Tesla Optimus
(Source: Tesla)

Musk said the company will start building the fully autonomous Robotaxi by 2026 at a price of less than $30,000. During the event, the company also unveiled the Robovan, which is capable of transporting 20 people, reshaping cities by “turning parking lots into parks”, added Musk.

Musk estimated the vehicle’s average operating cost at just $0.20 per mile, and stated that consumers would be able to purchase one. The autonomous vehicle will rely on cameras and artificial intelligence for navigation.

“To create a sustainable future, we must democratize transportation. We do this by making driving more efficient, affordable, and safe. Autonomy makes this future possible, today,” Tesla said.

Tesla Optimus
(Source: Tesla)

Read: e& to transform digital landscape by showcasing AI in action at Gitex Global 2024

Tesla shares plummet

Following the launch, Tesla stocks dipped close to 9 percent with investors saying that the company did not provide details about the new products it is launching. Besides, rival Uber’s shares surged 10.81 percent and Lyft’s shares rose 9.59 percent.

Analysts said that the reveal failed to highlight any near-term opportunities for Tesla, instead prioritizing Musk’s vision for a fully autonomous driving future.

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