Tesla’s stock saw an increase on Monday as Elon Musk continues to highlight 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 for external companies by 2026.
Back in April, during Tesla’s annual meeting, Musk indicated that the production of the Optimus robot would begin in 2025, predicting that by the end of that year, over 1,000 robots would be in operation at Tesla. Currently, two robots are already on the factory floor, although the specific tasks they are performing have not been disclosed.
Musk previously suggested that the introduction of these robots could potentially add $20 trillion to Tesla’s market value. The robots are not expected to be available for sale until late 2025, with an anticipated price range of $20,000 to $30,000 each.
The term “genuinely useful” has raised questions, especially considering that past demonstrations of the robots have fallen short of expectations. In one instance this past May, Tesla was criticized for airing a video that showed an Optimus robot folding a shirt, which was later revealed to have been controlled by an off-screen operator.
Tesla has a history of making flashy presentations for its products, famously debuting the Optimus robot project in 2021 with a dancer disguised in a robot suit. Analyst Craig Irwin from Roth MKM expressed skepticism, stating that they are unlikely to match the capabilities of competitors like Boston Dynamics, noting that what Tesla has demonstrated seems outdated compared to current technologies.
In addition to Boston Dynamics, Tesla competes with Honda and Apptronik in the humanoid robot space. Chinese companies Dongfeng Motor and Nio are testing humanoid robots developed by UBTech Robotics in their production lines, while BMW has been using humanoid robots from Silicon Valley-based Figure since January.
Following Musk’s comments, Tesla’s stock price increased by over 3% on Monday. Shares have remained relatively stable year-to-date after a significant recovery over the past few months. Tesla is set to report its second-quarter earnings on Tuesday, during which Musk is expected to provide an update on the anticipated rollout of the company’s robotaxi.