Tesla’s stock saw an increase on Monday as CEO Elon Musk continued to highlight the potential value of the company’s humanoid robots.
Musk tweeted that Tesla plans to have “genuinely useful humanoid robots in low production for internal use next year” and anticipates “high production for other companies by 2026.” During Tesla’s annual meeting in April, Musk announced that the Optimus robots would enter limited production by 2025, with a goal of having over 1,000 robots operating at Tesla by year-end. Currently, two robots are stationed on the factory floor, though Tesla has not disclosed their specific functions.
Musk has posited that these robots could potentially add $20 trillion to Tesla’s market value, although the expected sale of the robots won’t occur until late 2025, with prices projected between $20,000 and $30,000.
There is ambiguity around Musk’s assertion of the robots being “genuinely useful,” as previous demonstrations have garnered skepticism. For instance, in May, Tesla was criticized for a video showing an Optimus robot folding a shirt, which appeared to be manipulated by an off-screen operator.
Skepticism surrounding Tesla’s robot ambitions isn’t new; the company drew criticism with the 2021 launch of the Optimus project that featured a performer in a robot suit. Analyst Craig Irwin from Roth MKM expressed doubts about Tesla’s ability to compete with established players like Boston Dynamics, noting, “What they’ve shown us is really state of the art for 2014.”
In addition to Boston Dynamics, Tesla faces competition from Honda, Apptronik, and Chinese manufacturers such as Dongfeng Motor and Nio, which are testing humanoid robots developed by UBTech Robotics. BMW has also been employing humanoid robots from Figure in its operations since January.
Following Musk’s comments, Tesla’s stock rose over 3% on Monday. Year-to-date, shares have remained relatively flat after experiencing a significant recovery in the past two months. The company is set to announce its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the delayed robotaxi rollout.