Tesla shares experienced an increase on Monday following Elon Musk’s continued promotion of the company’s future humanoid robots. Musk announced on X that Tesla plans to have “genuinely useful humanoid robots in low production for internal use next year,” with hopes for extensive production for other companies by 2026.
At Tesla’s annual meeting in April, Musk mentioned that the Optimum robot would enter limited production in 2025, anticipating that over 1,000 units would be operational within the company by the year’s end. Although two robots are already functioning on the factory floor, Tesla has not specified their roles.
Musk speculated that this new product could potentially add $20 trillion to Tesla’s market capitalization. The robots are not expected to be available for sale until late 2025, with price estimates ranging between $20,000 and $30,000.
There remains skepticism regarding Musk’s assertion of the robots being “genuinely useful.” Previous demonstrations have drawn criticism; for instance, in May, a video of an Optimus robot folding a shirt was alleged to have involved off-screen human control.
Tesla has faced scrutiny for its promotional tactics, having first introduced the Optimus robot project in 2021, which included a person performing in a costume.
Analyst Craig Irwin from Roth MKM remarked on Yahoo Finance that achieving a sentient humanoid robot by 2025 seems unlikely, especially given the debatable presentation of their previous efforts, which he described as outdated compared to competitors like Boston Dynamics.
In addition to Hyundai’s Boston Dynamics, Tesla will face competition from Honda and Apptronik in Japan. Chinese companies such as Dongfeng Motor and Nio are also testing humanoid robots designed by UBTech Robotics in their production processes, while BMW has utilized robots from San Francisco-based Figure since January.
Following Musk’s comments, Tesla’s stock increased by more than 3% on Monday. The shares have remained relatively stable year-to-date after a strong recovery over the past two months. The company is set to report its second-quarter earnings on Tuesday, with Musk expected to provide updates on the delayed robotaxi project.