Tesla is facing supply chain and geopolitical roadblocks in ramping up production of its humanoid robot, Optimus. During the Q1 earnings call, CEO Elon Musk said mass production is months away, citing rare earth export restrictions from China as a major hurdle. Optimus uses permanent magnets in its actuators, which now require export licenses. Musk warned that progress is difficult to predict. Tesla missed revenue expectations for the first quarter., Shares rose over 4% on Tuesday but remain down over 37% year-to-date.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla is facing supply chain and geopolitical roadblocks and revving up production of its
00:06humanoid robot, Optimus. During the Q1 earnings call, CEO Elon Musk said mass production is
00:12months away, signing rare earth export restrictions from China as a major hurdle.
00:16Optimus uses permanent magnets and its actuators, which now require export licenses.
00:21Musk warned that progress is difficult to predict. Tesla missed revenue expectations
00:24for the first quarter. Shares rose over 4% on Tuesday, but remain down over 37%
00:30year-to-day. For all things money, visit Benzinga.com slash GSTV.