Tesla’s stock is on the rise Monday as CEO Elon Musk continues to emphasize the potential value of the company’s humanoid robots.
Elon Musk announced on social media platform X that Tesla will have “genuinely useful humanoid robots in low production for Tesla internal use next year and, hopefully, high production for other companies in 2026.”
During Tesla’s annual shareholders meeting in April, Musk stated that the Optimus robot would enter limited production in 2025, with more than 1,000 robots expected to be operational at Tesla by the end of that year. Currently, two robots are already on the factory floor, although Tesla has not disclosed their specific tasks.
Musk suggested that the robots could potentially add $20 trillion to Tesla’s market capitalization. The robots, expected to retail for between $20,000 and $30,000, aren’t anticipated to go on sale until the end of 2025.
However, the exact utility of these robots remains unclear. Previous demonstrations have been criticized, with accusations in May that a video showing an Optimus folding a shirt was actually featuring a robot being controlled by a person off-screen.
Tesla has faced skepticism in the past; when the Optimus project was first unveiled in 2021, it featured a person dancing in a robot costume. Analyst Craig Irwin from Roth MKM commented on Yahoo Finance that it will be challenging for Tesla to catch up to competitors like Boston Dynamics, stating that what Tesla has shown is “state of the art for 2014.”
Tesla will face competition from several companies, including Hyundai Motor’s Boston Dynamics, Japan’s Honda, and Apptronik. Chinese automakers Dongfeng Motor and Nio are testing humanoid robots developed by UBTech Robotics, and BMW has been using humanoid robots from Silicon Valley-based Figure since late January.
On the stock market, Tesla shares rose more than 3% on Monday following Musk’s announcement. The stock is relatively stable year-to-date but has seen a significant rebound over the past two months.
Tesla is scheduled to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the company’s delayed robotaxi unveiling.