Tesla’s stock experienced an increase on Monday as Elon Musk continues to highlight the potential value of the company’s humanoid robots. Musk stated on social media that Tesla is set to produce “genuinely useful” humanoid robots next year for internal use, with hopes of scaling up production for other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk suggested that the Optimus robots would enter limited production in 2025, with a forecast of over 1,000 of these robots operational at Tesla facilities by the end of that year. Currently, two robots are already present on the factory floor, although the company has not disclosed their specific functions.
Musk previously projected that these robots could add as much as $20 trillion to Tesla’s market capitalization. However, the robots are not anticipated to be available for purchase until late 2025, with expected prices ranging from $20,000 to $30,000.
There remains some ambiguity regarding what Musk means by describing the robots as “genuinely useful.” Previous demonstrations have raised skepticism; for instance, in May, Tesla faced claims of presenting a video showing an Optimus robot folding a shirt, which turned out to be controlled by a person off-screen.
This is not the first instance of Tesla using questionable presentations for their robots. In 2021, the company introduced its Optimus project featuring a dancer dressed in a robot suit, leading to skepticism about its technological achievements.
Analyst Craig Irwin from Roth MKM expressed doubts about Tesla’s ability to compete effectively in the humanoid robot space, suggesting that their current offerings lag behind leaders like Boston Dynamics. He remarked that Tesla’s showcased technology seems outdated compared to current standards.
Tesla will also compete against established players such as Hyundai’s Boston Dynamics, Honda, and Apptronik. Chinese automakers like Dongfeng Motor and Nio are exploring humanoid robots developed by UBTech Robotics for their production lines, while BMW has integrated Silicon Valley-based Figure’s humanoid robots into its facilities since January.
Following Musk’s comments, Tesla’s stock rose over 3% on Monday, stabilizing year-to-date after a significant recovery in the past two months. The company is set to release its second-quarter earnings report on Tuesday, where Musk is expected to share updates regarding the long-awaited robotaxi project.