Tesla shared a rather impressive update on its Optimus program over the weekend. In a short video posted on social media, Tesla demonstrated some of Optimus’ current capabilities, such as its self-calibration procedures and its ability to sort items using a vision-based system.
Tesla also demonstrated how Optimus is now able to perform fluid movements, with the humanoid robot smoothly sorting objects and even doing some basic yoga moves. This was a notable improvement from the robot’s capabilities from the previous year, considering that Tesla’s in-house Optimus humanoid robot in AI Day 2022 could not even walk on its own feet.
Optimus can now sort objects autonomously ?
Its neural network is trained fully end-to-end: video in, controls out.
Come join to help develop Optimus (& improve its yoga routine ?)
→ https://t.co/dBhQqg1qya pic.twitter.com/1Lrh0dru2r— Tesla Optimus (@Tesla_Optimus) September 23, 2023
Similar to other videos, the Optimus update that Tesla posted on social media was an effort to recruit more people. A look at Tesla’s Careers page shows that the electric vehicle maker is indeed hiring a lot of staff for its Optimus program. From a simple search on Tesla’s Careers page alone, one could see over 50 positions open for the Optimus program, all of which are located in Palo Alto, California.
The open positions for Tesla’s Optimus team span a variety of disciplines, with the company hiring software engineers, mechatronics engineers, robotics CAE engineers, embedded software engineers, robotic manipulation engineers, and joint control engineers, to name a few. The open positions hint that Tesla is hitting its pace with the Optimus program, and the company is set on growing its humanoid robotics team.
Tesla is hiring a lot of @Tesla_Optimus positions. Full speed ahead. 2024 is the year of the humanoid.
1. Software Engineer, Tesla Bot
2. Mechatronics Engineer, Tesla Bot
3. QA Tester, Tesla Bot
4. Release Manager, Tesla Bot
5. Engineering Technician, Tesla Bot
6. Reliability…— Smoke-away (@SmokeAwayyy) September 24, 2023
During AI Day 2022, Elon Musk mentioned that Optimus deliveries should be possible in as early as 3-5 years. That translates to around 2025-2027, which is very aggressive and optimistic considering the ambitious nature of the program. At the time, such a target seemed like it would be a typical missed estimate from Elon Musk. But considering the recent demonstration of the humanoid robot’s capabilities, perhaps a 2027 release for the robot might not be too farfetched after all.
While Tesla’s Optimus program is still in its early days, one can immediately see that the progress of the humanoid robot has been nothing short of amazing in just a few years. Tesla initially announced Optimus during AI Day 2021. At the time, Tesla only had a man in an Optimus suit, a static model of the robot, and a CGI trailer. By AI Day 2022, Tesla had two working Optimus prototypes: one made with off-the-shelf parts that was capable of walking on its own; and one with custom-made actuators that could not stand yet.
Needless to say, AI Day 2023 — if Tesla would hold one this year — would be very interesting.
Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads-up.
Tesla stock (NASDAQ: TSLA) closed at an all-time high on Tuesday, jumping over 3 percent during the day and finishing at $489.88.
The price beats the previous record close, which was $479.86.
Shares have had a crazy year, dipping more than 40 percent from the start of the year. The stock then started to recover once again around late April, when its price started to climb back up from the low $200 level.
This week, Tesla started to climb toward its highest levels ever, as it was revealed on Sunday that the company was testing driverless Robotaxis in Austin. The spike in value pushed the company’s valuation to $1.63 trillion.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
It is the seventh-most valuable company on the market currently, trailing Nvidia, Apple, Alphabet (Google), Microsoft, Amazon, and Meta.
Shares closed up $14.57 today, up over 3 percent.
The stock has gone through a lot this year, as previously mentioned. Shares tumbled in Q1 due to CEO Elon Musk’s involvement with the Department of Government Efficiency (DOGE), which pulled his attention away from his companies and left a major overhang on their valuations.
However, things started to rebound halfway through the year, and as the government started to phase out the $7,500 tax credit, demand spiked as consumers tried to take advantage of it.
Q3 deliveries were the highest in company history, and Tesla responded to the loss of the tax credit with the launch of the Model 3 and Model Y Standard.
Additionally, analysts have announced high expectations this week for the company on Wall Street as Robotaxi continues to be the focus. With autonomy within Tesla’s sights, things are moving in the direction of Robotaxi being a major catalyst for growth on the Street in the coming year.
Elon Musk
Tesla needs to come through on this one Robotaxi metric, analyst says
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Tesla needs to come through on this one Robotaxi metric, Mark Delaney of Goldman Sachs says.
Tesla is in the process of rolling out its Robotaxi platform to areas outside of Austin and the California Bay Area. It has plans to launch in five additional cities, including Houston, Dallas, Miami, Las Vegas, and Phoenix.
However, the company’s expansion is not what the focus needs to be, according to Delaney. It’s the speed of deployment.
The analyst said:
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Profitability will come as the Robotaxi fleet expands. Making that money will be dependent on when Tesla can initiate rides in more areas, giving more customers access to the program.
There are some additional things that the company needs to make happen ahead of the major Robotaxi expansion, one of those things is launching driverless rides in Austin, the first city in which it launched the program.
This week, Tesla started testing driverless Robotaxi rides in Austin, as two different Model Y units were spotted with no occupants, a huge step in the company’s plans for the ride-sharing platform.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
CEO Elon Musk has been hoping to remove Safety Monitors from Robotaxis in Austin for several months, first mentioning the plan to have them out by the end of 2025 in September. He confirmed on Sunday that Tesla had officially removed vehicle occupants and started testing truly unsupervised rides.
Although Safety Monitors in Austin have been sitting in the passenger’s seat, they have still had the ability to override things in case of an emergency. After all, the ultimate goal was safety and avoiding any accidents or injuries.
Goldman Sachs reiterated its ‘Neutral’ rating and its $400 price target. Delaney said, “Tesla is making progress with its autonomous technology,” and recent developments make it evident that this is true.
Investor's Corner
Tesla gets bold Robotaxi prediction from Wall Street firm
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Tesla (NASDAQ: TSLA) received a bold Robotaxi prediction from Morgan Stanley, which anticipates a dramatic increase in the size of the company’s autonomous ride-hailing suite in the coming years.
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Percoco dug into the Robotaxi fleet and its expansion in the coming years in his latest note, released on Tuesday. The firm expects Tesla to increase the Robotaxi fleet size to 1,000 vehicles in 2026. However, that’s small-scale compared to what they expect from Tesla in a decade.
Tesla expands Robotaxi app access once again, this time on a global scale
By 2035, Morgan Stanley believes there will be one million Robotaxis on the road across multiple cities, a major jump and a considerable fleet size. We assume this means the fleet of vehicles Tesla will operate internally, and not including passenger-owned vehicles that could be added through software updates.
He also listed three specific catalysts that investors should pay attention to, as these will represent the company being on track to achieve its Robotaxi dreams:
- Opening Robotaxi to the public without a Safety Monitor. Timing is unclear, but it appears that Tesla is getting closer by the day.
- Improvement in safety metrics without the Safety Monitor. Tesla’s ability to improve its safety metrics as it scales miles driven without the Safety Monitor is imperative as it looks to scale in new states and cities in 2026.
- Cybercab start of production, targeted for April 2026. Tesla’s Cybercab is a purpose-built vehicle (no steering wheel or pedals, only two seats) that is expected to be produced through its state-of-the-art unboxed manufacturing process, offering further cost reductions and thus accelerating adoption over time.
Robotaxi stands to be one of Tesla’s most significant revenue contributors, especially as the company plans to continue expanding its ride-hailing service across the world in the coming years.
Its current deployment strategy is controlled and conservative to avoid any drastic and potentially program-ruining incidents.
So far, the program, which is active in Austin and the California Bay Area, has been widely successful.
Tesla stock closes at all-time high on heels of Robotaxi progress
Tesla needs to come through on this one Robotaxi metric, analyst says
