All about Tesla

On July 22, Tesla CEO Elon Musk posted on X, formerly Twitter, that the company’s AI-powered humanoid robot, called Optimus, would be used internally beginning in 2025 and could be available for purchase in a couple of years. 

“Tesla will have genuinely useful humanoid robots in low production for Tesla internal use next year and, hopefully, high production for other companies in 2026,” the Tesla CEO wrote.

Tesla has been working on a humanoid robot for years, saying its goal for the robot was to create a “general purpose, bi-pedal, autonomous humanoid robot capable of performing unsafe, repetitive or boring tasks.”

Musk first unveiled a prototype of the Optimus in 2022 made out of metal configured vaguely in the shape of a human with only very basic movements, but in 2023 showed its next generation of Optimus with a sleeker design, improved features and sensors that allow the robot to work faster.

A December 2023 video presentation of the robot showed off its dexterity as it was able to pick up, hold and set down an egg without breaking it.

(Musk posting and other sources on July 22, 2024)

Futronic, a Korea-based supplier of actuators, motors, and other controller devices, has recently been approved to build a USD 28 million facility not far from Tesla Gigafactory Texas

City councilmembers in Buda, Texas this week approved Futronic to locate within the city, and approved USD 600,000 in tax incentives, along with additional incentives, for the company’s first U.S. location.

Futronic is seeking to purchase a 66,000-square-foot building at 2899 Business Park Drive for approximately USD 11 million, and invest up to USD 17 million more to begin operations with as many as 350 employees.

While most of Tesla’s suppliers remain private and under non-disclosure agreements (NDAs), Futronic was confirmed by the local Greater San Marcos Partnership as one of the EV maker’s suppliers.

(multiple sources on July 20, 2024)

On July 23, Tesla Inc. released its Q2 2024 report.

•    Automotive revenue down approximately 7% to USD 19.88 billion, while total revenue up 2% to USD 25.50 billion
•    Net income was down 45% to USD 1.48 billion, and adjusted EBITDA was down 21% to USD 3.67 billion.
•    Operating income was down 33% to 1.61 billion, and the operating margin was down 333 basis points to 6.3%.
•    Tesla had record energy storage deployment of 9.4 GWh in Q2
•    Total global production was down 14% to 410,831 vehicles, including Model 3/Y down 16% to 386,576 units, and all other models up 24% to 24,255 units.
•    Total global deliveries were down 5% to 443,956 vehicles, including Model 3/Y down 5% to 422,405 units and all other models up 12% to 21,551 units.
•    Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025. These vehicles will utilize aspects of the next generation platform as well as aspects of current platforms, enabling them to be produced on the same manufacturing lines as the current vehicles. The coming purpose-built Robotaxi will pursue an “unboxed” manufacturing strategy.
•    Tesla looks to fully utilize its current expected maximum capacity of close to three million vehicles, enabling more than 50% growth over 2023 production before investing in new manufacturing lines.

(Tesla release on July 23, 2024)