Tesla’s stock experienced an increase on Monday as Elon Musk continues to highlight the potential value of the company’s humanoid robots.
In a post on X, Musk stated that Tesla plans to have genuinely useful humanoid robots in limited production for internal use next year, with hopes for high production for other companies by 2026. At Tesla’s annual shareholder meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, projecting that over 1,000 robots could be operational at Tesla by the end of that year. Currently, two robots are already present on the factory floor, though Tesla has not disclosed their specific functions.
Musk previously suggested that the robots could potentially increase the company’s market valuation by $20 trillion. However, these robots are not expected to be available for sale until late 2025, with anticipated prices ranging from $20,000 to $30,000.
There is some uncertainty surrounding Musk’s claim that the robots will be “genuinely useful.” Previous demonstrations have not been particularly convincing; for example, Tesla faced criticism in May for sharing a video where an Optimus appeared to fold a shirt, allegedly manipulated by someone off-camera.
This isn’t the first time Tesla has faced skepticism regarding its robotic products. The company unveiled its Optimus robot project in 2021, featuring a person dancing inside a robot suit at the launch.
Craig Irwin, an analyst at MKM, expressed doubts on Yahoo Finance about the timeline for a sentient humanoid robot by 2025, noting the challenges Tesla faces in competing with advanced robotics companies like Boston Dynamics. He remarked that the capabilities demonstrated by Tesla are reminiscent of technology from 2014.
In addition to Boston Dynamics, Tesla is up against competitors such as Honda, Apptronik, and Chinese automakers like Dongfeng Motor and Nio, which are utilizing humanoid robots from UBTech Robotics. BMW has also integrated humanoid robots from Figure into its operations since January.
Following Musk’s statements, Tesla’s stock rose more than 3% on Monday. Year-to-date, shares have remained stable after experiencing significant growth over the past two months. The company is set to release its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi project.