Tesla’s stock experienced a surge on Monday as Elon Musk highlighted the potential value of the company’s humanoid robots. Musk announced on X that Tesla aims to have functional humanoid robots in limited production for internal use next year, with hopes for high production for external companies by 2026.
During Tesla’s annual meeting in April, Musk projected that the Optimus robots would enter limited production in 2025 and estimated that over 1,000 would be operational at Tesla by the end of that year. Although two robots are currently on the factory floor, Tesla has not disclosed their specific roles.
Musk previously suggested that the introduction of these robots could boost Tesla’s market capitalization by $20 trillion. The robots are anticipated to be available for sale by late 2025, with expected price points between $20,000 and $30,000.
However, the definition of “genuinely useful” robots remains vague, especially given past product demonstrations. In May, Tesla was criticized for sharing a video of an Optimus robot folding a shirt, which was revealed to have been operated by an individual off-camera.
Tesla’s history with product reveals has included questionable showcases, notably beginning its Optimus robot project in 2021 with a dancer in a robot costume. Analyst Craig Irwin from Roth MKM expressed skepticism about Tesla’s progress, comparing it unfavorably to companies like Boston Dynamics and highlighting that Tesla’s achievements seem outdated compared to current standards.
Aside from Hyundai’s Boston Dynamics, Tesla faces competition from Honda and Apptronik in humanoid robotics. Chinese manufacturers Dongfeng Motor and Nio are testing UBTech Robotics’ humanoid robots in their production lines, while BMW has integrated robots from Silicon Valley-based Figure into its operations since January.
Following Musk’s statements, Tesla’s stock rose more than 3% on Monday. Shares have remained relatively stable year-to-date after a significant recovery over the last two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update regarding the delayed introduction of robotaxi services.