Tesla’s stock saw an increase on Monday as Elon Musk emphasized the potential of the company’s humanoid robots.
In a post on X, Musk announced that Tesla plans to have useful humanoid robots in limited production for internal use by next year, with an aim for higher production levels for other companies by 2026. Previously, during Tesla’s annual meeting in April, Musk mentioned that the company planned to begin limited production of the humanoid robot, named Optimus, by 2025, predicting that over 1,000 units would be operational within the company by year-end. Currently, two robots are active on the factory floor, though their specific tasks remain undisclosed.
Musk has suggested that Optimus could significantly impact Tesla’s market value, projecting an addition of $20 trillion. These robots are not expected to be available for purchase until late 2025, with anticipated prices ranging between $20,000 and $30,000.
However, the capabilities of these robots remain somewhat vague. Previous demonstrations have been criticized, including a May incident where Tesla was accused of showcasing a video of an Optimus robot folding a shirt, which was allegedly controlled by a person off-camera.
Skepticism surrounds Tesla’s ambitious claims about its robots, especially given their initial unveiling in 2021 with a dancer in a robot costume. Craig Irwin, a Roth MKM analyst, remarked on Yahoo Finance that achieving a sentient humanoid robot by 2025 is overly optimistic, noting that Tesla’s technological displays seem outdated compared to competitors like Boston Dynamics.
In addition to Hyundai’s Boston Dynamics, Tesla faces competition from Honda and Apptronik. Chinese companies Dongfeng Motor and Nio have begun testing humanoid robots from UBTech Robotics on their production lines, while BMW has incorporated robots from Silicon Valley’s Figure in its operations since late January.
Following Musk’s remarks, Tesla’s stock rose over 3% on Monday, reflecting a stable performance year-to-date after a significant surge over the past two months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi launch.