Tesla’s stock saw an increase on Monday as Elon Musk spotlighted the potential of the company’s humanoid robots. Musk stated on social media that Tesla aims to have “genuinely useful humanoid robots in low production for internal use next year, and hopes to achieve high production for external companies by 2026.”
During Tesla’s annual meeting in April, Musk indicated that the humanoid robot, named Optimus, would enter limited production by 2025, with expectations of over 1,000 units operational by the end of that year. Currently, two robots are on Tesla’s factory floor, although their specific roles remain undisclosed.
Musk previously speculated that the introduction of the robots could increase the company’s market valuation by $20 trillion. Anticipated sales for these robots will not occur until late 2025, with a projected price range of $20,000 to $30,000 per unit.
However, the practicality of the robots Musk describes is uncertain. Previous demonstrations have faced criticism; for example, in May, Tesla was accused of showcasing a video of an Optimus robot folding a shirt, which was actually being controlled by an off-screen operator.
Analyst Craig Irwin from Roth MKM expressed skepticism regarding Tesla’s ability to compete with established robotics companies like Boston Dynamics, highlighting that what Tesla has presented so far seems outdated compared to advancements in the field.
In addition to Boston Dynamics, Tesla faces competition from Toyota’s Honda and Apptronik. Several Chinese automakers, including Dongfeng Motor and Nio, are experimenting with humanoid robots from UBTech Robotics in their factories, while BMW has incorporated humanoid robots developed by Silicon Valley’s Figure since January.
Following Musk’s remarks, Tesla’s stock rose by over 3% on Monday. Year-to-date, the shares have stabilized after a significant recovery over the past two months. Later this week, Tesla will report its second-quarter earnings, where Musk is anticipated to provide updates regarding the delayed launch of the robotaxi service.