Tesla shares are experiencing a notable increase as CEO Elon Musk emphasizes the potential of the company’s humanoid robots. On Monday, Musk took to social media platform X to announce that Tesla plans to have “genuinely useful humanoid robots” in limited production for internal use by next year, with the aim of achieving high production levels capable of servicing other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk had indicated that the Optimus robot would enter limited production in 2025, with expectations that over 1,000 units would be operating at Tesla by the end of that year. Currently, two robots are reported to be on the factory floor, though Tesla has not disclosed their specific functions.
Musk has outlined a remarkable potential for the Optimus product, suggesting it could increase Tesla’s market capitalization by up to $20 trillion. However, the robots are not anticipated to be available for purchase until late 2025, with a projected sale price ranging from $20,000 to $30,000.
Despite these ambitious projections, there remains skepticism regarding the robots’ practical utility. Previous demonstrations have faced criticism; for instance, a recent video of an Optimus robot folding a shirt was alleged to have been manipulated, with an operator off-screen actually controlling the actions.
In the competitive landscape, Tesla will need to contend with established players like Hyundai’s Boston Dynamics, Japan’s Honda, and Apptronik, along with Chinese companies such as Dongfeng Motor and Nio, both actively integrating humanoid robots into their production lines. Notably, BMW has also adopted Silicon Valley’s Figure’s humanoid robots within its operations since early this year.
Following Musk’s statements, Tesla’s stock rose over 3% on Monday, contributing to a stable year-to-date performance after a significant recovery in recent months. Investors are looking forward to the upcoming second-quarter earnings report where Musk is expected to provide insights into the timeline for the long-anticipated robotaxi.
In summary, while the excitement surrounding Tesla’s humanoid robots is swelling, skepticism remains about their practicality and functionality. Nevertheless, the potential advancements in technology and the accompanying optimism from investors highlight a future where innovative robotics may indeed play a transformative role in various industries.