Tesla’s stock experienced a rise on Monday as CEO Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk stated on X that Tesla plans to have functional humanoid robots available for internal use next year, with hopes for higher production for external customers by 2026.
During Tesla’s annual shareholder meeting in April, Musk projected that the humanoid robot, known as Optimus, would enter limited production by 2025, with over 1,000 units expected to be operational by the end of that year. Currently, two prototypes are on the factory floor, though Tesla has not disclosed their specific functions.
Musk previously suggested that the successful rollout of these robots could potentially add $20 trillion to Tesla’s market capitalization. However, the robots are not anticipated to be available for purchase until late 2025, when they are expected to be priced between $20,000 and $30,000.
Questions remain about the practicality of Musk’s claims regarding the robots being “genuinely useful.” Previous demonstrations of the technology have raised skepticism, including an incident in May where Tesla allegedly shared a video of an Optimus robot folding a shirt, which was later revealed to be controlled by an operator off-screen.
Critics, including MKM analyst Craig Irwin, have pointed out Tesla’s previous marketing tactics, referencing the company’s 2021 debut of the Optimus project featuring a performer dressed in a robot costume. Irwin noted that Tesla may struggle to compete with established robotics companies like Boston Dynamics, stating that their technology feels outdated by several years.
Tesla faces competition not only from Boston Dynamics but also from Honda and Apptronik, while Chinese companies like Dongfeng Motor and Nio are piloting humanoid robots from UBTech Robotics on their production lines. Additionally, BMW has integrated humanoid robots from Figure into its operations since early January.
Following Musk’s assertions, Tesla’s stock climbed over 3% on Monday. The shares have remained relatively stable this year after a substantial recovery in the past couple of months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the company’s postponed robotaxi project.