The company has been developing its Optimus robots for years now, with some already operational on the factory floor. By the end of 2024, Musk anticipates that over 1,000 of these robots will be employed at Tesla.

Deutsche Bank forecasts Teslas humanoid robot, Optimus, could generate $10 billion in annual revenue by 2035, despite some critics labeling the report as overly optimistic. The report highlights the vast market

Competition in the humanoid robot space has intensified due to the emergence of advanced platforms from various companies. Advances in infrastructure technology, large language models, and AI have resulted in the rapid growth of the market for humanoid robots.