Tesla’s stock experienced an increase on Monday following Elon Musk’s continued emphasis on the potential value of the company’s humanoid robots.
Musk announced on X that Tesla aims to have useful humanoid robots in low production for internal use next year, with plans for high production to be available for other companies by 2026. In April, during Tesla’s annual meeting, Musk indicated that the Optimus robots would enter limited production in 2025, with the expectation of over 1,000 robots operational by the end of that year. Currently, two robots have been deployed on the factory floor, although their specific tasks have not been disclosed.
Musk previously suggested that these robots could add $20 trillion to Tesla’s market capitalization; however, they are not expected to go on sale until late 2025, with projected prices ranging from $20,000 to $30,000.
The term “genuinely useful” raised questions, as past demonstrations have drawn scrutiny. For instance, in May, Tesla faced criticism for releasing a video that appeared to show an Optimus robot folding a shirt, which was alleged to have been controlled by a person out of view. Additionally, the company faced skepticism when it launched the Optimus project in 2021, featuring a dancer in a robot costume.
Analysts have voiced doubt about Tesla’s ability to compete with established players in the robotics field, such as Boston Dynamics. Craig Irwin from MKM Partners commented on Yahoo Finance that Tesla’s developments seem outdated compared to current industry standards.
In addition to Boston Dynamics, Tesla will be up against competitors like Honda and Apptronik. Moreover, Chinese firms Dongfeng Motor and Nio are trialing humanoid robots by UBTech Robotics in their factories, while BMW has employed robots from Silicon Valley’s Figure since January.
Following Musk’s comments, Tesla’s stock rose more than 3% on Monday. The shares have remained stable year-to-date after a significant rally over the past two months. Tesla’s second-quarter earnings report is anticipated on Tuesday, where Musk is expected to provide updates on the company’s postponed robotaxi launch.