Tesla’s stock experienced a rise on Monday, driven by Elon Musk’s ongoing promotion of the company’s humanoid robots’ potential value. Musk stated on X that Tesla plans to have truly useful humanoid robots in limited production for internal use next year, with hopes for higher production available to other companies by 2026.
In April, during Tesla’s annual shareholder meeting, Musk mentioned that the Optimus robot project would enter limited production by 2025, predicting over 1,000 robots operational at Tesla by year-end. Although two robots are currently present on the factory floor, Tesla has not disclosed their specific functions.
Musk suggested that the robots could significantly impact the company’s market value, potentially adding $20 trillion. However, the robots are not anticipated to be available for sale until late 2025, with a projected price range between $20,000 and $30,000.
The exact meaning of “genuinely useful” in reference to the robots remains uncertain, especially considering previous product demonstrations that have received criticism. For example, in May, Tesla faced backlash for a video purporting to show an Optimus robot folding a shirt, which was reportedly guided by an off-screen operator.
Tesla’s past presentations, including the 2021 debut of the Optimus project featuring a dancer in a robot costume, have raised skepticism. Analyst Craig Irwin from Roth MKM expressed doubt regarding Tesla’s ability to compete with established robotics developers like Boston Dynamics, highlighting that what Tesla has shown is outdated technology.
In addition to competition from Hyundai’s Boston Dynamics, Tesla will be up against Japan’s Honda and Apptronik. Chinese firms Dongfeng Motor and Nio are experimenting with humanoid robots from UBTech Robotics on their assembly lines, while BMW has been utilizing humanoid robots from Silicon Valley’s Figure since January.
Following Musk’s remarks, Tesla’s stock surged by over 3% on Monday. The shares have remained relatively stable this year after a substantial recovery in recent months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide insights on the delayed robotaxi rollout.