"As I've said before, I think Optimus will be more valuable than everything else combined," Musk told investors in an earnings call.

The future is electric and self-driven with vehicles commanded by software that Tesla sells to customers and gets a monthly fee from. Tesla's turnaround will start later this year, Musk said, and it will be good enough to generate more than $1 billion in free cash flow for the year.

Tesla's humanoid robot is still in the lab, but it may be ready to sell as soon as the end of next year, chief executive Elon Musk said on Tuesday. Several companies have been betting on humanoid robots to meet potential labor shortages and perform repetitive tasks that could be dangerous or tedious in industries such as logistics,

Elon Musk did not give a direct answer on Tuesday about whether he plans to reduce his role at Tesla in the next three years.

Tesla's sales are down. It's slashing car prices and laying off staff. Yet CEO Elon Musk remains bullish on a future that's self-driving and battery-powered.

Tesla (NASDAQ:TSLA) shot up in postmarket trading, despite posting a sharp drop in Q1 revenue, deliveries, margins, and EPS from a year ago. Investors seem to be latching on to the company's commitment to launch a more affordable model that can be produced on the same manufacturing lines that are currently utilized for the company's current model