Tesla’s stock saw a rise on Monday following comments from Elon Musk regarding the potential value of the company’s humanoid robots. Musk announced on social media that Tesla aims to have genuinely useful humanoid robots in limited production for internal use by next year and hopes for higher production for other companies by 2026.
During Tesla’s annual meeting in April, Musk projected that the company’s Optimus robot would enter limited production in 2025, with over 1,000 units operational at Tesla by the end of that year. Currently, the factory has two robots, although Tesla has not disclosed their specific functions.
Musk has suggested a hypothetical scenario where the robotics venture could add $20 trillion to Tesla’s market capitalization. However, the robots are not expected to be available for sale until late 2025, with a projected price range of $20,000 to $30,000.
The exact capabilities of these robots remain unclear, as past demonstrations have raised skepticism. In one instance, a video showing an Optimus robot folding a shirt was alleged to have involved a person operating it from off-screen. The initial unveiling of the Optimus project in 2021 involved a dancer in a robotic suit, which also drew criticism.
Analyst Craig Irwin from Roth MKM emphasized the challenges Tesla faces, stating that delivering a sentient humanoid robot by 2025 seems overly ambitious. He noted that Tesla’s developments seem outdated compared to competitors like Boston Dynamics.
In addition to Boston Dynamics, Tesla will be in competition with Japan’s Honda and the company Apptronik. Chinese manufacturers Dongfeng Motor and Nio are also exploring humanoid robots from UBTech Robotics in their production lines, while BMW has partnered with Silicon Valley-based Figure for their facilities since January.
Following Musk’s announcements, Tesla’s stock increased by over 3% on Monday. The shares have remained stable year-to-date after a significant recovery in recent months. Tesla is scheduled to report its second-quarter earnings on Tuesday, where updates on the delayed robotaxi rollout are anticipated.