Tesla’s stock experienced an increase on Monday as Elon Musk continues to emphasize the potential value of the company’s humanoid robots. Musk announced on social media platform X that Tesla plans to produce humanoid robots for internal use in low quantities next year, with hopes for larger-scale production available for other companies by 2026.
During an April event for Tesla shareholders, Musk mentioned that the Optimus robot would move into limited production by 2025, with a goal of having over 1,000 robots operational within the company by the year’s end. Although two robots are currently working on the factory floor, Tesla has not disclosed their specific tasks.
Musk has previously speculated that the introduction of these robots could enhance Tesla’s market capitalization by an astonishing $20 trillion. However, the robots are not expected to hit the market until late 2025 and will likely retail between $20,000 and $30,000.
The specifics of what Musk defines as “genuinely useful” robots remain unclear. Previous demonstrations have come under scrutiny, as seen in May when Tesla faced criticism for showcasing a video where an Optimus robot appeared to fold a shirt, but was allegedly controlled by an individual off-screen.
This wouldn’t be the first instance where Tesla has been accused of creating an illusion regarding their robotic capabilities. The company infamously introduced the Optimus robot in 2021 with a display featuring a dancer inside a robot costume.
Analyst Craig Irwin from Roth MKM expressed skepticism, questioning the viability of delivering a sentient humanoid robot by 2025, and noted the challenges Tesla faces in keeping pace with competitors such as Boston Dynamics. He commented that Tesla’s demonstrations seem outdated compared to current industry standards.
In addition to Boston Dynamics, Tesla will compete with Japan’s Honda and Apptronik. Chinese companies like Dongfeng Motor and Nio are already testing humanoid robots from UBTech Robotics on assembly lines, while BMW has been utilizing humanoid robots developed by Figure in their facilities since the start of the year.
Tesla’s stock rose over 3% following Musk’s comments, maintaining a stable position year-to-date after a significant recovery in the last two months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide insights on the delayed launch of the robotaxi service.