Tesla’s stock experienced an increase on Monday as CEO Elon Musk highlighted the future potential of the company’s humanoid robots. Musk stated on X that Tesla is aiming for low production of “genuinely useful” humanoid robots for internal use next year, with the hope of achieving higher production levels for external clients by 2026.
During Tesla’s annual shareholder meeting in April, Musk mentioned that the Optimus robot would move into limited production by 2025, predicting that over 1,000 units would be operational by the year’s end. Currently, two robots are in use at Tesla’s factory, although the specifics of their tasks have not been disclosed.
Musk previously suggested that the new product could add an astounding $20 trillion to the company’s market valuation. However, the robots are not expected to be available for purchase until late 2025, with prices projected to range between $20,000 and $30,000.
There has been skepticism regarding the effectiveness of these robots, particularly after past demonstrations that failed to impress. In one instance, a video showed an Optimus robot folding a shirt, but was later criticized for being controlled by an off-screen operator. Musk’s ambitious claims have led to doubts, especially given the initial launch of the Optimus project, which featured performers in costumes.
Competitors such as Hyundai’s Boston Dynamics, Japan’s Honda, and Apptronik are also in the humanoid robot sector. Additionally, Chinese companies like Dongfeng Motor and Nio are currently testing out humanoid robots from UBTech Robotics, while BMW has been utilizing humanoid robots from Figure in its production facilities since January.
Following Musk’s optimistic remarks, Tesla’s shares rose over 3% on Monday. The stock has remained relatively stable year-to-date after a notable rebound in the previous two months. Tesla is set to release its second-quarter earnings on Tuesday, where further insights on the company’s delayed robotaxi launch are anticipated from Musk.