Tesla’s stock increased on Monday as Elon Musk continues to highlight the promising potential of the company’s humanoid robots. Musk stated on X that Tesla aims to have usable humanoid robots in limited production for internal use by next year, with hopes for higher production levels for other companies by 2026.
During Tesla’s annual meeting in April, Musk announced that the Optimus robot project would enter limited production in 2025, with a projection of over 1,000 robots operating at Tesla by the end of that year. While two robots are already present on the factory floor, the company has not disclosed their specific tasks.
Musk suggested that the introduction of these robots could contribute an astonishing $20 trillion to Tesla’s market value. The robots are not expected to be available for sale until late 2025, with anticipated prices ranging from $20,000 to $30,000.
However, the true utility of these robots remains unclear. Previous demonstrations have faced skepticism; for instance, in May, Tesla was criticized for sharing a video that seemingly showcased an Optimus robot folding a shirt, but it was later revealed that a person off-screen was actually controlling the robot.
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Historically, Tesla has faced criticism for sensationalizing its robot project, which was first introduced in 2021 with a dancer dressed in a robot suit. Craig Irwin, an analyst at Roth MKM, voiced concerns about Tesla’s ability to keep pace with competitors like Boston Dynamics, stating that the company’s progress seems dated compared to industry standards from nearly a decade ago.
Tesla will not only compete with Boston Dynamics but also with Honda and Apptronik from Japan. Additionally, several Chinese automakers, including Dongfeng Motor and Nio, are experimenting with humanoid robots from UBTech Robotics, while BMW has been utilizing Figure’s robots since January.
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Musk’s statements contributed to a more than 3% rise in Tesla’s stock on Monday. The shares have remained stable year-to-date after a notable recovery over 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 company’s delayed robotaxi initiative.