Tesla’s stock saw an increase on Monday following CEO Elon Musk’s endorsement of the company’s humanoid robots’ potential value. Musk announced on X that Tesla plans to have useful humanoid robots in limited production for internal use next year and aims for higher production levels for external clients by 2026.
During Tesla’s annual shareholder meeting in April, Musk projected that the Optimus robots could enter limited production by 2025, with over 1,000 robots operational within the company by the end of that year. Currently, two robots are already on the factory floor, though Tesla has not disclosed their specific functions.
Musk previously suggested that these robots could significantly enhance Tesla’s market capitalization, envisioning a contribution of up to $20 trillion. However, the robots are not anticipated to be available for sale until late 2025, with prices expected to range from $20,000 to $30,000.
The definition of “genuinely useful” remains vague, as past demonstrations have faced criticism for lacking substance. A video in May showcased an Optimus robot folding a shirt, which was later alleged to have been manipulated by a person off-screen.
This is not the first instance of Tesla employing flashy presentations to promote its robots. The company’s initial unveiling of the Optimus robot project involved a dancer dressed in a robot costume.
MKM analyst Craig Irwin commented on Yahoo Finance, highlighting skepticism about the feasibility of creating a sentient humanoid robot by 2025, and remarked that Tesla’s demonstrations fall short compared to other leading companies in the field, like Boston Dynamics.
Tesla will face competition not only from Boston Dynamics, but also from Honda, Apptronik, and Chinese manufacturers Dongfeng Motor and Nio, who are utilizing humanoid robots from UBTech Robotics. In addition, BMW has been incorporating humanoid robots developed by Figure into its operations since late January.
Following Musk’s remarks, Tesla’s stock rose over 3% on Monday, maintaining a relatively stable position year-to-date after a significant recovery in recent months. Tesla is scheduled to announce its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates regarding the delay in the robotaxi launch.