Tesla’s stock experienced an uptick on Monday, fueled by Elon Musk’s continued advocacy for the potential of the company’s humanoid robots.
Musk stated on X that Tesla aims to produce genuinely useful humanoid robots for internal use by next year, with hopes for broader production for other companies by 2026.
Earlier this year, at Tesla’s annual shareholder meeting, Musk projected that the Optimus robot would enter limited production in 2025, with expectations of having over 1,000 robots operational within the company by the end of that year. Currently, two robots are on the factory floor, although Tesla has not disclosed their specific tasks.
In April, Musk suggested a significant financial impact, hypothesizing that the robots could potentially add $20 trillion to Tesla’s market value. 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 exact nature of what Musk defines as “genuinely useful” remains ambiguous. Previous demonstrations of the robots have raised skepticism; for instance, a video released by Tesla in May was criticized after it appeared that an Optimus robot folding a shirt was being controlled by an off-screen individual.
Tesla’s history of showcasing its robot technology has included questionable presentations, such as the initial reveal of the Optimus project in 2021, which featured a dancer in a robot costume.
Analyst Craig Irwin from Roth MKM expressed doubt about the timeline for a fully operational humanoid robot by 2025, criticizing Tesla’s previous efforts as outdated compared to competitors like Boston Dynamics.
In addition to Boston Dynamics, Tesla faces competition from Honda, Apptronik, and several Chinese companies, including Dongfeng Motor and Nio, which are implementing humanoid robots designed by UBTech Robotics in their production lines. BMW has also employed humanoid robots from Figure in its operations since earlier this year.
Following Musk’s remarks, Tesla’s stock rose over 3% on Monday, while shares remain relatively stable year-to-date after a significant rebound in recent months. Investors are also anticipating an update from Musk regarding the company’s postponed robotaxi launch as Tesla prepares to report its second-quarter earnings on Tuesday.