Tesla’s stock saw an increase on Monday as Elon Musk highlighted the potential value of the company’s humanoid robots. Musk announced that Tesla plans to have functional humanoid robots for internal use in low production next year, aiming for higher production levels for other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk had indicated that the Optimus robot would enter limited production in 2025, with a projection of over 1,000 robots operational at Tesla by the year’s end. Currently, two robots are already present on the factory floor, although Tesla has not disclosed their specific tasks.
Musk previously speculated that the introduction of these robots could add as much as $20 trillion to Tesla’s market capitalization. These robots are not expected to be available for sale until late 2025, with anticipated prices ranging from $20,000 to $30,000.
However, there is uncertainty regarding Musk’s claims of the robots being “genuinely useful.” Past demonstrations have faced criticism; for instance, in May, Tesla was accused of showcasing a video of an Optimus robot folding a shirt that was actually controlled by an off-screen operator. Additionally, Tesla’s previous unveiling of the Optimus robot in 2021 featured a person dancing in a robot suit, raising skepticism about the authenticity of their demonstrations.
MKM analyst Craig Irwin noted on Yahoo Finance that the ambitious timeline for a sentient humanoid robot by 2025 seems unrealistic, especially given Tesla’s past attempts to promote the project. He pointed out that the current technology appears outdated compared to that of competitors such as Boston Dynamics.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik. Chinese companies Dongfeng Motor and Nio are also experimenting with humanoid robots developed by UBTech Robotics, while BMW has integrated the humanoid robots from Figure into its facilities since the start of the year.
Following Musk’s comments, Tesla’s stock rose by over 3% on Monday. The shares have remained stable year-to-date after a strong recovery over the past two months. Tesla is scheduled to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the company’s postponed robotaxi unveiling.