Tesla’s stock experienced an uptick on Monday as CEO Elon Musk continued to emphasize the potential of the company’s humanoid robots.
Musk announced on X that Tesla plans to produce useful humanoid robots in limited quantities for internal use next year, with hopes for high production available to other companies by 2026. At Tesla’s recent shareholder meeting, Musk had previously mentioned that the Optimus robots would enter limited production by 2025, with an expectation of over 1,000 robots operational at Tesla by the end of that year. Currently, two robots are reportedly on the factory floor, although Tesla has not disclosed their specific functions.
Musk had also speculated in April that the humanoid robots could potentially add $20 trillion to Tesla’s market value. However, the launch of the robots for sale is not anticipated until late 2025, with a projected price range of $20,000 to $30,000.
There remains some ambiguity about the practicality of the robots, especially given that past demonstrations have faced scrutiny. In one instance, Tesla was accused of showcasing a video of an Optimus robot folding a shirt, which was revealed to be manipulated by an operator off-screen. Musk’s initial unveiling of the Optimus project in 2021, featuring an individual dressed in a robot costume, also raised eyebrows.
Analyst Craig Irwin from Roth MKM expressed skepticism over the timeline for a fully functional humanoid robot, commenting on the challenges Tesla faces compared to established competitors such as Boston Dynamics, Honda, and Apptronik. He noted that the technology demonstrated by Tesla appears outdated compared to advancements made by others in the field.
In addition to pressure from Hyundai’s Boston Dynamics, Chinese companies like Dongfeng Motor and Nio are testing humanoid robots from UBTech Robotics in their factories, and BMW has integrated humanoid robots from Figure into its facilities since early this year.
Tesla’s stock climbed by over 3% following Musk’s comments. Shares have remained relatively stable year-to-date after a significant recovery over the past couple of months. The company is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide an update on the delayed launch of their robotaxi service.