Tesla’s stock experienced a notable increase on Monday, fueled by Elon Musk’s optimistic outlook on the company’s humanoid robotics initiatives. Musk took to social media platform X to share his vision, stating that Tesla aims to have operational but low-production humanoid robots for internal use by next year, with the intention of ramping up production for external clients by 2026.
In a previous meeting with shareholders, Musk had indicated that Tesla’s humanoid robot project, known as Optimus, would enter limited production by 2025, projecting that more than 1,000 of these robots could be employed at Tesla facilities by the year’s end. While two robots are currently on the factory floor, Tesla has not disclosed their specific functions.
Musk also posited a dramatic potential increase in Tesla’s market capitalization, estimating that the success of these robots could contribute an additional $20 trillion. However, the robots are not anticipated to be available for purchase until late 2025, with a projected price range of $20,000 to $30,000.
Critics, including analysts from Roth MKM, remain skeptical of Musk’s claims regarding the robots being “genuinely useful.” Concerns have been raised about past demonstrations, including one where a video of an Optimus robot folding laundry was allegedly controlled by an individual off-screen. Observers have noted Tesla’s tendency to make grand promises that often don’t align with actual product performance.
The company’s humanoid robot aspirations are not without competition. Industry leaders like Boston Dynamics, Honda, and Apptronik are making strides in the robotic field, while other companies, including Chinese automakers, are experimenting with humanoid robots in their production lines.
Despite the skepticism, Tesla’s stock rose by over 3% on Monday following Musk’s comments, reflecting the market’s volatility and potential investor optimism. Shares have stabilized year-to-date, bolstered by considerable gains within the past two months. Investors will be looking for further insights on Tesla’s plans, particularly regarding their postponed robotaxi unveiling, during the upcoming second-quarter earnings report.
Overall, while challenges and skepticism loom within the robotics field, Musk’s bold ambitions could pave the way for transformative advancements within Tesla and the larger tech landscape. This exciting venture into humanoid robotics showcases Tesla’s continued commitment to innovation, promising new opportunities for collaboration and technological evolution.