Tesla shares experienced an increase on Monday as Elon Musk highlighted the company’s advancements in humanoid robot technology. Musk stated on social media that Tesla plans to produce “genuinely useful” humanoid robots for internal use next year, with expectations for mass production for other companies by 2026.
During Tesla’s annual meeting in April, Musk mentioned that the Optimus robot would enter limited production in 2025, predicting that more than 1,000 of these robots could be operational at Tesla facilities by the year’s end. Currently, two robots are on the factory floor, but the company has not disclosed their specific tasks.
Musk suggested that the introduction of these robots could potentially increase the company’s market value by $20 trillion. However, their market release is not anticipated until late 2025, with projected prices ranging from $20,000 to $30,000.
There is some skepticism regarding Musk’s characterization of the robots as “genuinely useful.” Earlier demonstrations have received criticism, notably when a May video appeared to show an Optimus robot folding a shirt, which some claimed was controlled by an off-screen operator.
Tesla has a history of unconventional promotional tactics, having first introduced the Optimus project in 2021 with a performer dressed in a robot costume. Analyst Craig Irwin from MKM expressed doubts about Tesla’s timeline for a fully functional robot, suggesting that competing firms like Boston Dynamics have set higher standards in robotics years ago.
Tesla will face competition not only from Hyundai’s Boston Dynamics but also from Honda and Apptronik. Additionally, Chinese companies Dongfeng Motor and Nio are piloting humanoid robots from UBTech Robotics, while BMW has utilized humanoid robots from Figure, based in Silicon Valley, since January.
Following Musk’s remarks, Tesla’s stock climbed over 3% on Monday. Year-to-date, the shares have remained relatively stable after a significant rebound in the past two months. The company is set to announce its second-quarter earnings on Tuesday, where Musk is likely to provide updates on the delayed robotaxi project.