Tesla’s stock saw an increase on Monday, fueled by Elon Musk’s ongoing discussions about the potential benefits of the company’s humanoid robots.
In a recent statement on X, Musk announced that Tesla aims to introduce genuinely useful humanoid robots for internal use next year, with plans for higher production levels intended for other companies by 2026.
During Tesla’s annual meeting in April, Musk revealed that the company’s Optimus robots would enter limited production by 2025, with a goal of having over 1,000 of them operational by the end of that year. Currently, two robots are on the factory floor, although Tesla has not disclosed their specific functions.
Musk previously suggested that the Optimus project could significantly impact the company’s market valuation, potentially adding $20 trillion. However, the robots are not anticipated for market release until late 2025, with projected prices ranging from $20,000 to $30,000.
The definition of “genuinely useful” robots remains ambiguous, especially given previous demonstrations that have raised skepticism. In May, Tesla faced criticism for showcasing a video where an Optimus appeared to fold a shirt, which was later revealed to be controlled by an off-screen operator.
Tesla has been known for its flashy marketing, having previously launched the Optimus project in 2021 with a dancer in a robot suit, prompting questions about the project’s authenticity. Analyst Craig Irwin of Roth MKM expressed doubts, comparing Tesla’s efforts to more advanced robotics from companies like Boston Dynamics, noting that the technology displayed seemed outdated.
In addition to Boston Dynamics, Tesla will face competition from Honda and Apptronik, as well as Chinese firms like Dongfeng Motor and Nio, which are testing humanoid robots from UBTech Robotics in their manufacturing processes. BMW has also integrated humanoid robots developed by Figure into its operations since January.
Following Musk’s comments, Tesla’s stock gained over 3% on Monday. The shares have remained stable so far this year after a strong recovery in the past two months. Tesla is set to announce its second-quarter earnings on Tuesday, where Musk is expected to update investors on the delayed robotaxi project.