Tesla’s stock experienced a boost on Monday as CEO Elon Musk continued to highlight the potential of the company’s humanoid robot technology.
Musk shared on X that Tesla aims to have “genuinely useful humanoid robots” in limited production for internal use by next year, with hopes for larger-scale production available for other companies by 2026. During Tesla’s annual shareholder meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, projecting that over 1,000 of the robots could be operational within the company by the end of that year. While two robots are currently on the factory floor, their specific functions have not been disclosed.
In a bold statement, Musk suggested that these robots could potentially increase Tesla’s market value by $20 trillion. However, the robots are not expected to be available for purchase until late 2025, with anticipated prices ranging from $20,000 to $30,000.
The concept of “genuinely useful” robots has been questioned, particularly after previous demonstrations failed to impress. Notably, a demonstration in May showed an Optimus robot folding a shirt but was later criticized for allegedly being controlled by an individual off-screen.
Skepticism surrounds Tesla’s ambitions, especially considering the company’s previous marketing stunts, such as debuting the Optimus project with a dancer inside a robot suit in 2021. Craig Irwin, an analyst with Roth MKM, voiced doubts about Tesla’s ability to compete with established robotics firms like Boston Dynamics, suggesting their current offerings fall behind contemporary standards.
In addition to facing competition from Boston Dynamics, Tesla must also contend with Japan’s Honda and Apptronik. Chinese automakers Dongfeng Motor and Nio are currently testing humanoid robots developed by UBTech Robotics, while BMW has already incorporated humanoid robots from Silicon Valley’s Figure into their operations since January.
Following Musk’s remarks, Tesla’s stock rose over 3% on Monday. The shares have remained relatively stable year-to-date after a significant rebound in the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to address the delays surrounding the robotaxi launch.