Tesla’s stock experienced a rise on Monday as CEO Elon Musk emphasized the potential value of the company’s humanoid robots. Musk stated on X that Tesla aims to produce genuinely useful humanoid robots in low volumes for internal use by next year, with hopes for mass production for other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk had indicated that the Optimus robot would enter limited production by 2025, predicting that over 1,000 units would be operational at Tesla by the year’s end. Currently, two robots are on the factory floor, although Tesla has not disclosed their specific functions.
Musk suggested that the introduction of these robots could add $20 trillion to Tesla’s market capitalization, with sales starting at the end of 2025 and prices expected between $20,000 and $30,000 per unit.
However, the term “genuinely useful” remains vague, and previous demonstrations have led to skepticism. In May, Tesla was accused of sharing a video that wrongly implied an Optimus robot folded a shirt, while in reality, it was being controlled by someone off-screen. The company has faced criticism for its past marketing tactics, such as introducing the Optimus project in 2021 with a person dressed in a robot suit.
Analysts warn that Tesla may struggle to catch up with competitors like Boston Dynamics, Honda, and Apptronik. Chinese firms Dongfeng Motor and Nio are also experimenting with humanoid robots made by UBTech Robotics, while BMW has utilized humanoid robots from Silicon Valley’s Figure since January.
In light of Musk’s announcements, Tesla’s stock rose over 3% on Monday, maintaining a flat trajectory year-to-date following a significant recovery in recent months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the postponed robotaxi release.