Elon Musk says this business has the potential to become bigger than Tesla’s car business

The Optimus Human robot is the most important thing Tesla Inc. will be working on this year, Chief Executive Officer Elon Musk told investors Wednesday, doubling down on a product he memorably previewed last year with a human dancing on stage.

Musk said on an earnings webcast Wednesday that humanoid robots will be key to addressing the labor shortage in the US, and that their first use will be in Tesla’s own factories. Optimus “has the potential to become more important than the vehicle business over time,” he said.

Musk said Tesla is working through supply chain issues that will affect production this year, and it will not offer any new vehicle models as it focuses on ramping up production at new factories. But the company plans to achieve full self-driving technology this year, Musk said.

Tesla Inc. will delay production of its much-anticipated Cybertruck, which aims to start in 2023, the company said on Wednesday, at a time when legacy automakers and startups are doubling down on efforts to capture the lucrative market.

Elon Musk, who unveiled the futuristic vehicle in 2019, had already delayed its production from late 2021 to the end of 2022. The pickup’s web page recently stopped mentioning the production schedule.

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