Tesla’s stock saw an increase on Monday as Elon Musk emphasized the potential value of the company’s humanoid robots.
In a post on X, Musk stated, “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.”
Previously, at Tesla’s annual shareholder meeting in April, Musk mentioned that the Optimus robot would enter limited production by 2025, predicting that over 1,000 units would be operational by the end of that year. Currently, two robots are operational on the factory floor, though Tesla has not disclosed their specific roles.
Musk also suggested that the robot could potentially increase the company’s market cap by $20 trillion. The robots are not expected to become available for purchase until late 2025, with anticipated prices ranging from $20,000 to $30,000.
However, the exact utility of these robots remains ambiguous. Past demonstrations, such as a recent video where a robot appeared to fold a shirt, led to skepticism as it was revealed that a person was controlling the robot off-screen.
Tesla has a history of presenting flashy demonstrations; the Optimus project was famously introduced in 2021 with a performer in a robot costume.
Craig Irwin, an analyst at Roth MKM, expressed doubt about the progress Tesla can make by 2025, noting, “It’s gonna be hard for them to catch up to Boston Dynamics. What they’ve shown us is really state of the art for 2014.”
In addition to competition from Hyundai’s Boston Dynamics, Tesla faces rivals like Honda and Apptronik. Chinese companies Dongfeng Motor and Nio are testing humanoid robots by UBTech Robotics in their production lines, while BMW has been utilizing Figure’s humanoid robots since January.
On the back of Musk’s statements, Tesla’s stock rose over 3% on Monday, maintaining a stable position year-to-date after a significant recovery in the last couple of months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to offer updates on the postponed robotaxi launch.