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Tesla reveals humanoid robot that will cost less than $20,000

Biped not ready for real-world use but Elon Musk says it could end poverty

Tesla said Optimus' first job will be at one of the EV maker's factories. (Screenshot from Tesla's video)

PALO ALTO, U.S. -- Tesla on Friday night showcased a prototype of a humanoid robot, dubbed Optimus, as the U.S. electric vehicle maker enters the robotics business.

At the company's AI Day in Palo Alto, California, Tesla CEO Elon Musk said Optimus will kick-start a "fundamental transformation for civilization as we know it," adding the company is trying to achieve "a future of abundance, a future where there is no poverty," by developing the human-form robots.

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