Tesla’s stock saw an increase on Monday as CEO Elon Musk continues to highlight the potential benefits of the company’s humanoid robots. Musk stated on X that Tesla aims to have “genuinely useful humanoid robots in low production for internal use next year and, hopefully, high production for other companies by 2026.”
During Tesla’s annual meeting in April, Musk indicated that the humanoid robot, named Optimus, would enter limited production in 2025, predicting that over 1,000 robots would be operational at Tesla by the end of that year. Currently, two robots are already present on the factory floor, though Tesla has not disclosed their specific functions.
Musk previously claimed that the introduction of these robots could potentially add $20 trillion to the company’s market value. However, they are not expected to be available for purchase until late 2025, with pricing projected between $20,000 and $30,000.
There remains some ambiguity around what Musk means by “genuinely useful” robots, as previous demonstrations have not always impressed. For instance, in May, Tesla faced criticism for a video that appeared to show an Optimus robot folding clothing, which was later revealed to be manipulated by a person off-screen.
This isn’t Tesla’s first venture into convincing demonstrations; the company previously showcased its Optimus project in 2021 with a person dressed in a robot costume performing a dance.
Analyst Craig Irwin from MKM remarked on Yahoo Finance that achieving a sentient humanoid robot by 2025 seems ambitious, especially given the competition from firms like Boston Dynamics. He noted that Tesla’s current developments appear to lag behind what has already been established in the industry.
In addition to Boston Dynamics, Tesla will face competition from Honda and Apptronik, while Chinese companies such as Dongfeng Motor and Nio are experimenting with humanoid robots from UBTech Robotics on their production lines. BMW has also integrated humanoid robots from Silicon Valley’s Figure in its facilities since January.
Following Musk’s comments, Tesla’s stock rose more than 3% on Monday. The shares have remained relatively stable year-to-date after bouncing back significantly over the past couple of months.
Tesla is set to announce its second-quarter earnings on Tuesday, during which Musk is expected to provide an update on the long-delayed robotaxi reveal.