Tesla’s stock saw an increase on Monday as Elon Musk continues to highlight the potential impact of the company’s humanoid robots. In a post on X, Musk stated that Tesla plans to have “genuinely useful humanoid robots in low production for internal use next year, and hopefully in high production for external companies by 2026.”
During Tesla’s annual meeting in April, Musk mentioned that the Optimus robot would enter limited production in 2025 and projected that over 1,000 robots could be operational at Tesla by year-end. Currently, two robots are already present on the factory floor, though the specific tasks they perform have not been disclosed.
Musk also presented a bold vision in April, suggesting that the humanoid robot could potentially add $20 trillion to Tesla’s market capitalization. However, the robots are not expected for sale until late 2025, with an estimated price between $20,000 and $30,000.
There remains some skepticism regarding Musk’s description of the robots as “genuinely useful.” Initial demonstrations have garnered criticisms; for instance, earlier this year, Tesla faced accusations of misleadingly showcasing an Optimus robot folding a shirt while it was actually being controlled by an individual off-screen.
Critics suggest that Tesla has previously engaged in hype surrounding its robots, citing the infamous introduction of the Optimus project in 2021, where a dancer appeared in an Optimus suit. Analyst Craig Irwin from Roth MKM remarked on Yahoo Finance, “A sentient humanoid robot by 2025? I mean come on, they tried to launch this product with a dancer inside of a robot suit. It’s gonna be hard for them to catch up to Boston Dynamics.”
In addition to competition from Boston Dynamics, Tesla faces challenges from Honda, Apptronik, and Chinese manufacturers Dongfeng Motor and Nio, who are testing humanoid robots from UBTech Robotics. BMW has also started integrating humanoid robots from Silicon Valley-based Figure into its operations since January.
Following Musk’s comments, Tesla’s stock rose over 3% on Monday. Year-to-date, shares remain relatively stable after a significant recovery over the past two months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the delayed robotaxi launch.