Tesla’s stock saw a rise on Monday as CEO Elon Musk highlighted the potential of the company’s humanoid robots. Musk announced on X that Tesla plans to introduce genuinely useful humanoid robots with low production for internal use as soon as next year, and aims for high production for external customers by 2026.
Earlier this year, during Tesla’s annual meeting in April, Musk stated that the company would begin limited production of its humanoid robot, known as Optimus, in 2025, anticipating that over 1,000 units would be operational at Tesla by the end of that year. Currently, two robots are in the factory, although the company has not disclosed their specific functions.
Musk suggested that these robots could potentially increase Tesla’s market capitalization by $20 trillion. The commercial sale of the robots is not expected until late 2025, with projected prices ranging from $20,000 to $30,000.
However, the term “genuinely useful” remains vague, especially given that previous demonstrations have been underwhelming. In May, Tesla faced criticism for a video of an Optimus robot folding a shirt, which was later revealed to have been operated by a human off-screen.
Tesla’s previous marketing of the Optimus robot has also raised eyebrows. The project was famously launched in 2021 with a promotional performance featuring a dancer in a robot suit.
Analyst Craig Irwin from Roth MKM expressed skepticism about the timeline for a sentient humanoid robot, pointing out that Tesla’s technology appears outdated compared to competitors like Boston Dynamics. He remarked that the current state of Tesla’s robot development suggests it is falling behind the technology available since 2014.
In the humanoid robot sector, Tesla faces competition not only from Hyundai’s Boston Dynamics but also from Honda, Apptronik, and Chinese manufacturers such as Dongfeng Motor and Nio, which are currently testing humanoid robots from UBTech Robotics. BMW has also been utilizing humanoid robots from Silicon Valley startup Figure in its operations since January.
Following Musk’s statements, Tesla’s stock rose by over 3% on Monday. Year-to-date, shares have remained relatively stable after a notable recovery in the past couple of months. Tesla is scheduled to report its second-quarter earnings on Tuesday, where further updates on the anticipated robotaxi unveiling from Musk are expected.