Tesla’s stock experienced a rise on Monday, driven by Elon Musk’s continued emphasis on the potential value of the company’s humanoid robots. Musk stated on X that Tesla is on track to produce genuinely useful humanoid robots for internal use next year, with hopes for high production for other companies by 2026.
During a Tesla shareholder meeting in April, Musk expressed that the Optimus robots would enter limited production by 2025, predicting that over 1,000 of the robots would be operational within the company by year-end. Currently, two robots are already present on the factory floor, though Tesla has not clarified their specific roles.
Musk previously speculated that the introduction of these robots could substantially increase the company’s market capitalization by $20 trillion. The robots are not expected to be available for purchase until late 2025, with anticipated prices ranging from $20,000 to $30,000.
There is some ambiguity in Musk’s assertion that the robots will be “genuinely useful.” Previous product demonstrations have not been particularly convincing; for instance, a video released in May showcased an Optimus robot folding a shirt but was later alleged to have been manipulated by an individual off-screen.
Tesla has faced skepticism in the past regarding the promotion of its robots. The project’s initial unveiling in 2021 featured a dancer dressed in a robot suit, raising doubts about the company’s capabilities. Craig Irwin, an analyst at Roth MKM, expressed on Yahoo Finance that producing a sentient humanoid robot by 2025 seems overly ambitious and noted that Tesla’s current offerings lag behind advancements made by competitors like Boston Dynamics.
In addition to Boston Dynamics, Tesla is expected to face competition from Honda and Apptronik in Japan, while Chinese manufacturers Dongfeng Motor and Nio are integrating humanoid robots developed by UBTech Robotics into their production lines. BMW has also been utilizing humanoid robots created by Silicon Valley-based Figure since January.
Following Musk’s comments, Tesla’s stock increased by over 3% on Monday. Year-to-date, shares remain relatively stable after a significant rebound in the past two months.
Tesla is scheduled to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates regarding the company’s delayed robotaxi launch.