Tesla's Profit Drops 43% as Musk Starts Building Robots and Plans to Sell Driverless Cabs

Tesla reported a quarterly profit of $787 million last quarter, down from $1.37 billion, as the company’s spending on robots and self-driving cars soared. Tesla said its Optimus robot is now in production. The company also aims to get its Cybercabs, which are driverless cabs, to customers by the end of the year. Optimus is the robot project, and Cybercab is the driverless-cab project, both tied to Tesla’s spending on robotics and autonomous driving.