Tesla CEO Elon Musk provided significant updates on the company's humanoid robot project, Optimus, during the company’s Q2 earnings call.
According to Musk, Optimus is already performing tasks in Tesla's factories, with plans for production version 1 and limited production starting early next year. Musk said this would be for Tesla consumption.
"But we expect to have several thousand Optimus robots produced and doing useful things by the end of next year in the Tesla factories," he told analysts.
The roadmap for Optimus doesn't stop there. By 2026, Tesla Inc (NASDAQ:TSLA) plans to ramp up production significantly and begin offering Optimus robots to external customers.
"There will be a production version 2 of Optimus," Musk confirmed. This phase will see a high-volume production of Optimus, which Musk believes will have a transformative impact on various industries.
Addressing the energy business, Musk noted that it is growing faster than any other segment within Tesla. The company is expanding production in its U.S. factories and building a mega factory in China, which could potentially triple output. Musk emphasized the massive undertaking of changing the energy system and the bright future ahead for Tesla.
A noteworthy point in Musk's comments was the long-term prospects of Optimus. He believes that Optimus's value will eventually surpass that of all other Tesla products combined.
"It's simply just never considered the usefulness utility of a humanoid robot that's do pretty much anything you asked it. I think everyone know it's going to want one. So it's 8 billion people on." Musk said.
He projects that the demand for general-purpose humanoid robots could be in excess of 20 billion units, given both individual and industrial uses.
When asked about the accessories for Optimus, Musk mentioned that the robot is designed to be compatible with any tools or accessories that a human can use.
"Optimus has tend to be a generalized humanoid robot with a lot of intelligence. So it's like saying what kind of accessories will we offer really human. It's just being able to be backward compatible with human tests," the Tesla boss explained during the call.
He also touched upon the potential market impact and valuation, suggesting that the autonomous transport market could reach a valuation of $5 trillion, with general-purpose humanoid robots possibly achieving several times that amount.
"At that point, I'm not sure what money even means, but in the benign AI scenario, we are headed for an age of abundance, where there is no shortage of business services," Musk added.