Tesla’s stock experienced a rise on Monday as Elon Musk continued to highlight the potential of the company’s humanoid robots. Musk stated on social media platform X that Tesla will roll out “genuinely useful” humanoid robots for internal use in low production next year, with hopes for higher production for external clients by 2026.
During Tesla’s annual shareholder meeting in April, Musk revealed plans for the Optimus robot to enter limited production by 2025. He projected that by year’s end, over 1,000 robots could be operational at Tesla’s facilities. Although two robots have already been introduced on the factory floor, the company has not detailed their specific roles.
Musk suggested that the introduction of these robots could potentially increase the company’s market capitalization by $20 trillion. The humanoid robots are not expected to be available for purchase until late 2025 and are anticipated to be priced between $20,000 and $30,000.
However, Skepticism remains regarding Musk’s characterization of the robots as “genuinely useful.” Previous demonstrations have not been particularly convincing; for instance, in May, there were claims that a video of an Optimus robot folding a shirt actually showed a person controlling it from off-screen.
This is not Tesla’s first attempt to intrigue audiences about the robots; the company first showcased its Optimus project in 2021 with a dancer dressed in a robot costume.
Analyst Craig Irwin from Roth MKM weighed in, noting the challenge Tesla faces in competing with established players like Boston Dynamics. He remarked, “What they’ve shown us is really state of the art for 2014.”
In addition to Boston Dynamics, Tesla will be going up against competitors including Honda and Apptronik. Chinese manufacturers Dongfeng Motor and Nio are exploring humanoid robots created by UBTech Robotics on their production lines, while BMW has been integrating Figure’s humanoid robots in their operations since January.
On the news of Musk’s comments, Tesla’s stock rose over 3% on Monday, although shares have remained relatively flat year-to-date after a significant rebound in the past two months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi launch.