Optimus robots could help save Tesla over $500M annually
What's the story
Tesla, the renowned electric vehicle manufacturer led by Elon Musk, is making significant strides in its robotics division.
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 analysts believe that replacing human workers with robots, could help the company save up to $509 million each year.
Cost efficiency
A significant cost-saving measure for Tesla
The introduction of Optimus robots is not just a technological advancement, but also a potential cost-saving measure for Tesla.
Deutsche Bank estimates that each robot costs between $27,000 and $76,000 to produce. However, these machines are expected to generate substantial savings by the end of this decade.
The bank's model suggests that replacing just 10% of human workers with robots, could save Tesla up to $141 million annually by 2027.
Future savings
Tesla's potential savings
The cost-saving potential of Tesla's Optimus robots extends beyond the initial estimates.
Deutsche Bank's model further projects that if a worker earning $72,800 annually in 2030 is replaced by a robot, Tesla could save an additional $57,550.
If this replacement strategy is extended to 20% of the workforce, the company could potentially save up to $509 million each year.
This significant figure underscores the financial benefits of integrating robotics into manufacturing processes.
Market potential
Optimus robots: Beyond the factory floor
Musk envisions a future where Optimus robots are not confined to the factory floor. He has stated that these machines could potentially serve as babysitters, teachers, or even bodyguards.
The commercial sale of these robots is expected to commence by the end of 2025, with a price range between $20,000 and $30,000.
This suggests that Tesla's robotics division may soon extend its reach into various sectors of consumer life.