Tesla’s stock experienced an uptick on Monday as Elon Musk continued to highlight the potential of the company’s humanoid robots. Musk expressed optimism on social media, stating that Tesla plans to have functional humanoid robots in low production for internal use next year, with hopes for broader production for other companies by 2026.
Earlier this year, during Tesla’s annual shareholders meeting, Musk indicated that the Optimus robots would enter limited production by 2025. He predicted that over 1,000 robots could be operational at Tesla by the end of that year, although the company has not disclosed the specific tasks those robots would carry out. Currently, two robots are already on the factory floor.
Musk has suggested that the new product could significantly boost Tesla’s market capitalization by as much as $20 trillion. However, the robots are not anticipated to go on sale until late 2025 and are expected to be priced between $20,000 and $30,000.
Skepticism surrounds Musk’s claims regarding the robots’ usefulness. Previous demonstrations have faced criticism, including a situation where a video showing an Optimus robot folding a shirt was found to be controlled by an off-screen person. This incident, among others, has raised doubts about the authenticity of Tesla’s robot presentations, including the company’s initial reveal of the Optimus project featuring a dancer in a robot costume.
Analysts suggest that Elon Musk may have a tough time competing with established players in the humanoid robot industry, such as Boston Dynamics and Japan’s Honda. Additionally, Chinese manufacturers Dongfeng Motor and Nio are exploring humanoid robots created by UBTech Robotics for use in their production lines, while BMW has integrated Figure’s humanoid robots into its operations since January.
In reaction to Musk’s comments, Tesla’s stock rose by over 3% on Monday. Year-to-date, shares have remained largely stable following a significant rebound in the past two months. Tesla is set to announce its second-quarter earnings on Tuesday, where Musk is expected to provide insights into the delayed unveiling of the company’s robotaxi.