Tesla’s stock experienced an uptick on Monday as Elon Musk continued to emphasize the potential value of the company’s humanoid robots.
Musk shared on X that Tesla aims to have “genuinely useful” humanoid robots in low production for internal use next year, with hopes for larger scale production for other companies by 2026.
At Tesla’s annual meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, expecting to have over 1,000 robots operational at Tesla by the end of that year. Currently, two robots are already present on the factory floor, although their specific tasks have not been disclosed.
Musk has previously posited that the robots could potentially add $20 trillion to Tesla’s market capitalization, though they are not projected to be available for sale until late 2025, with anticipated prices ranging from $20,000 to $30,000.
However, the exact definition of “genuinely useful” remains somewhat ambiguous, as previous demonstrations of the robots have faced criticism. In May, Tesla was accused of sharing a video showing an Optimus robot folding a shirt, which was revealed to be controlled by a person off-screen.
This is not the first time Tesla has faced skepticism regarding their robot demonstrations. The company initially revealed its Optimus robot project in 2021, featuring a dancer in a robot costume.
Analyst Craig Irwin from MKM expressed doubt on Yahoo Finance, questioning the company’s ambition to deliver a sentient humanoid robot by 2025, especially given the competition from firms like Boston Dynamics, which are considered to be ahead in robotics technology.
Besides Boston Dynamics, Tesla will contend with competitors such as Honda and Apptronik in Japan. Chinese companies like Dongfeng Motor and Nio are also testing humanoid robots from UBTech Robotics in their production lines, while BMW has been utilizing humanoid robots from Figure in its facilities since January.
Following Musk’s announcements, Tesla’s stock rose by over 3% on Monday, holding steady year-to-date after a significant rebound in recent months. The company is expected to report its second-quarter earnings on Tuesday, where Musk is likely to provide updates regarding the delays in the robotaxi rollout.