Tesla’s stock experienced gains on Monday as CEO Elon Musk continued to highlight the potential of the company’s humanoid robots. Musk stated on X that Tesla is on track to produce useful humanoid robots for internal use next year and aims for mass production for other companies by 2026.
During Tesla’s annual shareholders meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, with an expectation of over 1,000 robots operating within the company by the year’s end. Currently, two robots are said to be on the production floor, although Tesla has not disclosed their specific roles.
Musk has projected that the introduction of these robots could add up to $20 trillion to Tesla’s market capitalization. They are not expected to be available for sale until late 2025, with a projected retail price ranging between $20,000 and $30,000.
The definition of “genuinely useful” in relation to the robots remains ambiguous, particularly as previous demonstrations have faced criticism. In May, Tesla was accused of sharing a video that showed an Optimus robot folding a shirt, which was reportedly controlled by a person off-camera. Moreover, Tesla’s initial showcase of the Optimus project in 2021 included a dancer dressed in a robot costume, raising questions about the authenticity of their demonstrations.
Analysts, such as Craig Irwin from Roth MKM, expressed skepticism about Tesla’s competition with established firms like Boston Dynamics, suggesting that Tesla’s current offerings are outdated. Competing companies include Hyundai’s Boston Dynamics, Honda, and Apptronik, while Chinese automakers Dongfeng Motor and Nio are experimenting with humanoid robots by UBTech Robotics, and BMW has been using Silicon Valley’s Figure robots since January.
Following Musk’s comments, Tesla’s stock rose by more than 3% on Monday, though shares have remained relatively stable year-to-date, bouncing back significantly in the last two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates on the company’s postponed robotaxi launch.