Tesla’s stock is experiencing an uptick on Monday, spurred by Elon Musk’s continued emphasis on the potential value of the company’s humanoid robots.
Musk noted on social media platform X that Tesla is set to begin limited production of genuinely useful humanoid robots for internal use next year, with plans for broader production for other companies by 2026.
At Tesla’s annual meeting in April, Musk announced that the Optimus robot would enter limited production in 2025, with an expectation of over 1,000 robots operational at Tesla by the end of that year. Currently, two robots are already present on the factory floor, though Tesla has not disclosed their specific duties.
Musk posited that the introduction of these robots could potentially add $20 trillion to Tesla’s market value. The robots are not anticipated to go on sale until late 2025, and are expected to be priced between $20,000 and $30,000.
There is ambiguity surrounding what Musk means by “genuinely useful” robots, especially given previous product demonstrations that have drawn skepticism. In May, for instance, Tesla faced criticism for a promotional video that suggested an Optimus robot could fold a shirt, which was later revealed to be controlled by a person off-screen.
Tesla has faced accusations of exaggerating the capabilities of its robots in the past, including the initial debut of the Optimus project in 2021, which featured a performer dressed in a robot suit.
Craig Irwin, an analyst at Roth MKM, expressed doubts about Tesla’s ability to match the advancements of competitors like Boston Dynamics, remarking that Tesla’s current robot technology lags behind what was considered cutting-edge nearly a decade ago.
In addition to Boston Dynamics, Tesla will be competing with Honda and Apptronik. Chinese firms like Dongfeng Motor and Nio are working with humanoid robots developed by UBTech Robotics in their manufacturing processes, while BMW has been using humanoid robots from Silicon Valley-based Figure since January.
Following Musk’s remarks, Tesla’s stock climbed over 3% on Monday. Year-to-date, shares have remained relatively stable after a notable rebound over the last couple of months.
Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates regarding the launch of the company’s delayed robotaxi initiative.