Tesla’s stock saw an increase on Monday as Elon Musk continued to highlight the potential value of the company’s humanoid robots. Musk shared on social media that Tesla aims to have “genuinely useful humanoid robots in low production for internal use” next year, with hopes for higher production for other companies by 2026.
During April’s annual shareholder meeting, Musk stated that they would begin limited production of the Optimus robots in 2025, anticipating over 1,000 units could be operational at Tesla by the end of that year. Currently, two robots are reportedly on the factory floor, although Tesla has not disclosed their specific functions.
Musk previously speculated that the product could potentially boost Tesla’s market capitalization by up to $20 trillion. The robots are not expected to be available for sale until late 2025, with projected prices ranging from $20,000 to $30,000.
However, the exact functionality of the robots remains vague. Previous demonstrations have raised skepticism; in one instance, Tesla was accused of showcasing a video of an Optimus robot folding a shirt that was actually being manipulated by an off-screen individual.
Critics have pointed out that Tesla has occasionally resorted to misleading presentations to promote the robots. The company initially introduced its Optimus project in 2021 with a performance featuring a dancer in a robot costume.
Analyst Craig Irwin of MKM commented that the idea of a fully sentient humanoid robot by 2025 seems unrealistic, considering Tesla’s past demonstrations have not kept pace with advancements from competitors like Boston Dynamics.
In addition to facing competition from Hyundai-owned Boston Dynamics, Tesla must contend with Honda, Apptronik, as well as Chinese companies Dongfeng Motor and Nio, which are testing humanoid robots developed by UBTech Robotics in their production lines. BMW has also been working with humanoid robots from Silicon Valley-based Figure since January.
Following Musk’s remarks, Tesla’s stock climbed over 3% on Monday. The shares have remained relatively stable year-to-date after experiencing a significant recovery in the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the anticipated robotaxi rollout.