Tesla’s stock experienced a boost on Monday as CEO Elon Musk continued to emphasize the potential value of the company’s humanoid robots. Musk stated on X that Tesla plans to have genuinely useful humanoid robots in limited production for internal use as soon as next year, with hopes for higher production levels available to other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk mentioned that the humanoid robot, Optimus, would enter limited production in 2025. He estimated that by the end of that year, over 1,000 of these robots could be operational at Tesla facilities. Currently, two robots are being utilized on the factory floor, though Tesla has not disclosed their specific roles.
Musk suggested that the introduction of these robots could potentially add up to $20 trillion to Tesla’s market capitalization. These robots are not expected to be available for purchase until late 2025, with a projected price range of $20,000 to $30,000 each.
However, the definition of “genuinely useful” robots remains ambiguous. Past demonstrations have raised skepticism, including an incident in May where a video showed an Optimus robot folding a shirt, leading to allegations that it was being manipulated by a person hidden from view.
Skeptics like Roth MKM analyst Craig Irwin have raised concerns about Tesla’s ability to deliver on its ambitious claims. He noted that the company debuted the Optimus robot project in a theatrical manner, featuring a dancer in a robot suit, and suggested that Tesla would struggle to keep pace with established competitors like Boston Dynamics, whose technology he views as significantly more advanced.
In addition to Boston Dynamics, Tesla faces competition from companies like Honda and Apptronik. Chinese firms Dongfeng Motor and Nio are currently testing humanoid robots from UBTech Robotics in their production lines, while BMW has been employing humanoid robots from Figure, based in Silicon Valley, since January.
Musk’s comments contributed to a more than 3% rise in Tesla’s stock on Monday. The shares have stabilized year-to-date following a significant rebound over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, at which point Musk is likely to provide updates on the anticipated launch of the company’s robotaxi service.