Tesla’s stock experienced an uptick on Monday as Elon Musk underscored the prospective value of the company’s humanoid robots. Musk took to X to announce that Tesla plans to have operational humanoid robots for internal use in limited quantities by next year, with hopes for higher production for external companies by 2026.
At Tesla’s annual meeting in April, Musk mentioned that the robot named Optimus would enter limited production in 2025, forecasting that over 1,000 units could be in operation at Tesla by the year’s end. Currently, two units are reportedly already present in the factory, although Tesla has not disclosed their specific functions.
Musk has previously suggested that Optimus could potentially add $20 trillion to Tesla’s market value. The robots are not expected to be available for purchase until late 2025, with anticipated pricing ranging between $20,000 and $30,000.
However, the definition of “genuinely useful” humanoid robots remains vague, especially considering previous product demonstrations that have raised skepticism. For instance, a May video allegedly showing an Optimus robot folding a shirt was claimed by some to feature a human controlling the robot from off-screen.
Tesla has a history of showcasing its robots in an exaggerated manner, including the 2021 introduction of the Optimus project, which featured a person dressed in a robot costume performing a dance.
Industry analysts, such as Roth MKM’s Craig Irwin, express doubts about Tesla’s ambition to produce a sentient humanoid robot by 2025, pointing out that the company is lagging behind competitors like Boston Dynamics. He noted that what Tesla has presented thus far falls short of current technological standards.
The competitive landscape for humanoid robots includes Hyundai Motor’s Boston Dynamics, Japan’s Honda, Apptronik, and Chinese firms like Dongfeng Motor and Nio, which are integrating robots from UBTech Robotics into their production lines. BMW has also been utilizing humanoid robots from Silicon Valley-based Figure since the beginning of this year.
Tesla’s stock climbed over 3% on Monday following Musk’s comments, leaving the shares mostly steady year-to-date after a significant rebound in the past couple of months. The company is set to report its second-quarter earnings on Tuesday, where Musk is likely to provide updates on the anticipated robotaxi unveiling that has faced delays.