Tesla’s stock experienced a rise on Monday as CEO Elon Musk highlighted the potential value of the company’s humanoid robots. Musk announced on X that Tesla plans to have genuinely useful humanoid robots in limited production for internal use next year, with hopes for higher production levels for other companies by 2026.
At Tesla’s annual meeting in April, Musk mentioned that the Optimus robot would enter limited production by 2025, predicting that over 1,000 units would be operational at Tesla by the end of that year. Currently, two robots are present on the factory floor, but specific tasks they perform have not been disclosed.
In his remarks, Musk suggested that the introduction of these robots could potentially increase Tesla’s market capitalization by $20 trillion. The robots are not expected to be available for sale until late 2025, with prices anticipated to range from $20,000 to $30,000.
The exact definition of “genuinely useful” robots remains uncertain. Previous demonstrations have faced criticism; in May, Tesla was accused of posting a video where an Optimus robot appeared to fold a shirt, but this was allegedly done with off-screen human assistance.
Skepticism surrounds Tesla’s claims regarding its robots. Analyst Craig Irwin from MKM stated that Tesla would face significant challenges competing against established companies like Boston Dynamics, remarking that Tesla’s showcased technology seems outdated compared to current advancements.
Tesla will also be competing with other players in the humanoid robot market, such as Honda, Apptronik, and Chinese car manufacturers like Dongfeng Motor and Nio, which are utilizing humanoid robots from UBTech Robotics. Additionally, BMW has been using humanoid robots from Figure in their operations since early this year.
Following Musk’s recent statements, Tesla stock rose over 3% on Monday. Year-to-date, shares remain relatively flat after a significant rebound in the last two months. Tesla is slated to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the long-awaited robotaxi unveiling.