Tesla says it will begin robotaxi business and Optimus "pilot" production in 2025
Tesla plans to launch its robotaxi business and pilot production of its humanoid robot in 2025, the company said Wednesday.
Why it matters: CEO Elon Musk has described self-driving car services as critical to the company's future.
Driving the news: Musk said on an earnings call that the company is "confident" it will launch "unsupervised" full-self-driving cars "as a paid service" in Austin, Texas, in June.
He predicted the company would also launch robotaxi services in California this year, plus other U.S. markets.
Tesla's "supervised" FSD — a partially autonomous driving system requiring occasional driver intervention — "continues to rapidly improve with the aim of ultimately exceeding human levels of safety," the company said in its earnings report.
Tesla said its Cybercab — a vehicle with no steering wheel built to serve as a robotaxi — will begin "volume production starting in 2026."
Between the lines: Tesla also said Wednesday it remains committed to delivering "more affordable models," with production set to begin on these electric vehicles in the first half of 2025.
"These vehicles will utilize aspects of the next generation platform as well as aspects of our current platforms and will be produced on the same manufacturing lines as our current vehicle line-up," the company said.
By the numbers: In the fourth quarter, Tesla's revenue rose 2% compared with a year earlier to $25.7 billion, falling short of S&P Capital IQ's estimate of $27.1 billion.
Its net income fell 71% to $2.3 billion, in line with S&P's estimate.
Tesla shares jumped over 4% in after hours trading.
Tesla analysts are more focused on the company's future ambitions — including the development of its Optimus humanoid — than its past financial performance, according to Evercore ISI analyst Chris McNally.
Musk said the company will make at least several thousand Optimus robots in 2025, adding that their initial use will be for tasks inside Tesla factories.
Eventually, "Optimus will be able to play the piano and thread a needle," he said.
Editor's note: This article was updated with further information from Tesla's earnings call.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Trump not on ballot but president influences Tuesday's high-stakes primary
Virginia, one of only two states to hold gubernatorial elections this year, conducts high-profile primaries on Tuesday that may grab national attention. Voters in Virginia, a competitive state in American political elections, will cast Democrat and Republican primary ballots for governor, lieutenant governor, attorney general and for state lawmakers in the House of Delegates. And while President Donald Trump isn't on the ballot, his sweeping and controversial agenda has been a key part of the conversation on the Virginia campaign trail. Trump's Department of Government Efficiency, better-known by its acronym DOGE, has been on a mission to chop government spending and cut the federal workforce. This Republican Woman May Become The Nation's First Black Female Governor The moves by DOGE, which until last month was steered by Elon Musk, the world's richest person, have been acutely felt in suburban Washington's heavily populated Northern Virginia, with its large federal workforce. Read On The Fox News App "The policies of DOGE have hit northern Virginia hard," Dave Richards, political science chair at the University of Lynchburg, noted. Trump's name and his policies have been front-and-center on the Virginia campaign trail in recent weeks. That's fueled strong turnout in the Democratic Party contests in the 45 days of early voting leading up to primary day as the candidates have pledged to fight the president's agenda. "Over 189,000 Virginians cast their ballots early in the Democratic primaries. 189,000!!!!" the state Democratic Party touted in a social media post on the eve of primary day. The healthy turnout comes despite there being no drama at the top of the ticket. The race for governor has already been set, between Republican gubernatorial nominee Lt. Gov. Winsome Earle-Sears and former Rep. Abigail Spanberger. But the winner in November will make history as Virginia's first female governor. And if Sears comes out on top, she'll become the nation's first Black woman to win election as governor. Virginia elected its first Black governor, L. Douglas Wilder, in 1989. Trump-backed Favorite Ciattarelli Wins New Jersey Gop Gubernatorial Primary Incumbent Republican Gov. Glenn Youngkin, who has a large national profile, is prevented from running for re-election as Virginia's constitution doesn't allow sitting governors to seek consecutive terms. Republicans have already decided their nominations for lieutenant governor and attorney general, so all the action down ballot is among the Democrats. The GOP's lieutenant governor nominee is former radio host John Reid, who, if elected, would be Virginia's first openly gay lieutenant governor. The six Democrats running to face off in November with Reid are, in alphabetical order, attorney Alex Bastani, state Sen. Ghazala Hashmi, chair of the Prince William County school board Babur Lateef, state Sen. Aaron Rouse, federal prosecutor and law professor Victor Salgado, and former Richmond Mayor Levar Stoney. The Republican nominee for attorney general is incumbent Jason Miyares. Two Democrats, former state lawmaker and former Washington, D.C., Assistant Attorney General Jay Jones and Henrico County Commonwealth's Attorney Shannon Taylor, are running to face off with Miyares in November. While Republicans currently control all three statewide offices, Democrats hold slim majorities in both chambers of the state legislature. All 100 seats in the House of Delegates - which the Democrats control 51-49 - are up for grabs in November. Kyle Kondik, the managing editor of the non-partisan political handicapper Sabato's Crystal Ball at the University of Virginia Center for Politics, highlighted that "the gubernatorial race will really help set the tone for the other statewide races and the race for the House of Delegates." And Richards noted, "the Republican ticket is very diverse, and the results of the Democratic primary will determine how diverse the democratic ticket is." Virginia's primaries are likely to grab attention, as it and New Jersey - which held primaries last week - are the only two states to hold gubernatorial showdowns in the year following a presidential election. And the results are also seen as a precursor to the following year's midterm elections, when Republicans will be defending their House and Senate majorities, and 36 states will hold elections for governor. Republicans swept the elections for governor, lieutenant governor, and attorney general in Virginia four years ago, breaking a 12-year losing streak to the Democrats. And while Republicans haven't carried the Commonwealth in a White House contest since 2004, Trump only lost the state by six points in last November's presidential election, a four-point improvement from his 2020 defeat. But Republicans will be facing historical headwinds this November. With only one exception since 1977, the party that holds the White House loses Virginia's gubernatorial article source: Trump not on ballot but president influences Tuesday's high-stakes primary
Yahoo
2 hours ago
- Yahoo
Why KULR Technology Stock Is Plummeting Today
After the market closed last Friday, KULR announced that it will carry out a reverse stock split. KULR will implement an 8-for-1 reverse stock split on June 23. The reverse split will help KULR keep trading on its current exchange, but some investors are seeing negative signs in the move. 10 stocks we like better than KULR Technology Group › KULR Technology (NYSEMKT: KULR) stock is getting hit with huge selling action in Monday's trading. The company's share price was down 21.3% as of 3 p.m. ET, despite the S&P 500 (SNPINDEX: ^GSPC) being up 0.9% at the same point in the day's trading. KULR is seeing a big valuation pullback today following news that the company will carry out a reverse stock split. The new structure for the stock won't do anything to alter the fundamentals of the business, but investors are dumping shares ahead of the 8-for-1 reverse split that will take effect on June 23. After surging late in 2024's trading, KULR stock has seen big sell-offs this year. The company's share price is down roughly 74.5% year to date. As a result of the big valuation pullback, KULR's share price is currently below the $1 threshold necessary to continue trading on the NYSE-American Market. By announcing the reverse stock split before its shares had been trading below the threshold for a significant amount of time, KULR may also be able to avoid new rules from the New York Stock Exchange approved earlier this year that make it more difficult to use reverse splits to remain in compliance. KULR's reverse stock split will take effect next Monday and will result in the equivalent of eight existing shares being combined into one new share. The move will have the effect of boosting the company's share price, but it won't alter the fundamentals of the business. Continuing to trade on the NYSE-American Market exchange is probably a good thing for KULR over the long term because it will continue to make the stock easily available for a wide range of investors. On the other hand, it's not hard to see why some investors are reacting negatively to the reverse stock-split news. Reverse splits often occur because a company and its stock are struggling, and they can also limit some of the potential for explosive short-term gains that some investors may be seeking with penny stocks. Before you buy stock in KULR Technology Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and KULR Technology Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor's total average return is 988% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why KULR Technology Stock Is Plummeting Today was originally published by The Motley Fool
Yahoo
2 hours ago
- Yahoo
Utahns weigh in on Trump's job as president so far
President Donald Trump is nearing the five-month mark of his second term — a term marked so far by a frenetic pace of executive orders and action on issues related to culture as well as immigration and foreign policy. A major focus of the president more recently is pushing his 'big, beautiful bill' over the finish line in the Senate after it passed the House late last month. He also publicly enthusiastically embraced then fell out with his former close friend and adviser Elon Musk, who is opposed to the bill and left his position in the administration recently in a fiery spat. Trump is also trying to decide how much to involve the United States in Israel's effort to try to eliminate Iran's nuclear capabilities. Trump has insisted that his tariff agenda will work in Americans' favor and celebrated immigration enforcement that has ramped up across the country. Also in recent days, Trump has engaged in a battle with California Gov. Gavin Newsom, after he deployed several thousand National Guard troops to protect federal workers and property in response to ongoing protests of his immigration practices in Los Angeles. The deployment has escalated tensions between political parties, with Republicans largely backing Trump's use of military force and most Democrats criticizing him for overriding state power. Voters have responded to all of these changes and others, riding a bit of a roller coaster since Trump's inauguration in January. In the latest poll from the Deseret News/Hinckley Institute of Politics conducted by HarrisX, Utahns were asked whether they approve or disapprove of Trump's job performance. A reliably red state, Utah voters generally approve of Trump's job performance, while a sizable minority still disapproves of his action. Among those surveyed, a majority, 56%, approve of Trump's job as president, which is up from 54% in an April survey. In the latest Deseret News/Hinckley Institute of Politics poll, voters were also asked by HarrisX how well they think Trump is handling key issues. Trump still remains popular with Republicans in Utah. Nearly 80% of Utah Republicans approve of the job he's doing as commander in chief, with 47% of them who say they 'strongly approve' of his performance. The president performs best with white Utahns, males and with Utahns who are 35-49, the survey found. Jason Perry, the director of the University of Utah's Hinckley Institute of Politics, said Utah's Republican base is still 'firmly behind President Trump.' Among the 42% of Utahns who don't approve of Trump's presidency so far, the largest share are Democrats. Among Democratic voters, 84% disapprove of his job performance so far, while 58% of independent voters in Utah also disapprove of Trump's leadership. Perry noted that the share of independent voters in the state who disapprove of Trump's job as president is interesting. 'That is a group that will need to be watched, that is a group that can impact a race,' he told the Deseret News. Utahns largely approve of most of Trump's actions on various issues, but the issue they most supported was the president's immigration-related actions. According to the survey, 61% approve of Trump's handling of immigration, while 35% disapprove. Republicans in the state overwhelmingly support Trump on immigration, while just 21% of Democrats approve. Independents were fairly split down the middle on Trump's immigration policy. Utahns also strongly approved of Trump's efforts to reduce the cost of government, with 59% job approval compared to 34% who don't approve, and of his administration of the government, with 55% approval compared to 40% who don't approve. On foreign affairs, 54% of Utahns said they approve of the job Trump is doing compared to 40% who don't approve. While Trump also campaigned on economic issues, Utahns weren't overwhelming in their support of the president's economic moves. Just over half, 51%, of respondents approve of Trump's work on the economy so far, with 44% disapproving. He received similar levels of support on inflation. The issue of tariffs and international trade, a matter he campaigned on, is the only issue Utahns disapprove of more than approve. The survey found 48% of respondents disapprove of Trump's trade and tariff policy, while just 46% approve. Perry argued that Trump's lower performance on economic issues in the state will need to be watched when its time to head to the polls. 'When you talk to voters, when it comes time to vote, those are the things that are highest on their list,' he said. 'His approval on things like immigration and reducing the cost of government, which is important, but in the end, the economy itself, soon as we start looking to midterm elections and to the next election cycle, that issue is going to come up high again.' The survey was conducted online from May 16-21 among 805 registered voters in Utah by HarrisX. The margin of error is +/- 3.5 percentage points.
