Tesla shares experienced an uptick on Monday following Elon Musk’s continued emphasis on the potential value of the company’s humanoid robots. Musk shared on social media that Tesla aims to produce useful humanoid robots in small quantities for internal use next year and aspires to have higher production for other businesses by 2026.
During Tesla’s annual shareholder meeting in April, Musk forecasted that the Optimus robots would enter limited production by 2025, predicting that over 1,000 units could be operational at Tesla by the year’s end. Although two robots are already present on the production line, Tesla has not disclosed their specific tasks.
Musk has previously suggested that the introduction of these robots could potentially add $20 trillion to Tesla’s market value. However, the robots are not expected to be available for sale until late 2025, with expected prices ranging between $20,000 and $30,000.
There is uncertainty regarding what Musk means by “genuinely useful” robots, given that past demonstrations have raised skepticism. For instance, in May, Tesla was criticized for releasing a video where an Optimus appeared to fold a shirt, which was later revealed to be controlled by a person off-screen.
Skepticism surrounding Tesla’s claims is not new; the company previously showcased its Optimus project in 2021 with a dancer in a costume to represent the robot.
Analyst Craig Irwin of MKM expressed doubt about Tesla’s ability to compete with established robotics firms such as Boston Dynamics, suggesting the technology showcased by Tesla appears outdated compared to advancements made within the industry over the years.
In addition to Boston Dynamics, Tesla faces competition from Honda, Apptronik, and several Chinese manufacturers, including Nio and Dongfeng Motor, which are experimenting with humanoid robots on their production lines. BMW has integrated Silicon Valley-based Figure’s humanoid robots into its operations.
Tesla’s stock rose over 3% on Monday, reflecting investor optimism following Musk’s remarks. The stock has remained stable year-to-date, recovering significantly over the past two months. Tesla is set to announce its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates on the long-awaited robotaxi project.