Tesla shares experienced an increase on Monday as Elon Musk highlighted the potential value of the company’s humanoid robots.
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Musk took to X on Monday, stating, “Tesla will have genuinely useful humanoid robots in low production for Tesla internal use next year and, hopefully, high production for other companies in 2026.”
During Tesla’s annual meeting in April, Musk indicated that the Optimus robot would enter limited production by 2025, with expectations of over 1,000 robots operating at Tesla by the end of that year. Currently, two robots are present on the factory floor, although Tesla has not disclosed their specific tasks.
Musk raised the possibility that the robot product could contribute an additional $20 trillion to the company’s market capitalization. However, the robots are not anticipated to be available for purchase until the end of 2025, with projected prices ranging from $20,000 to $30,000.
The term “genuinely useful” remains somewhat ambiguous as past demonstrations have not been particularly impressive. In May, Tesla faced scrutiny for a video that appeared to show an Optimus robot folding a shirt but was actually being controlled by someone off-screen.
Tesla has a history of using eye-catching visuals to promote their robots, with the Optimus project originally unveiled in 2021 featuring an individual in a robot costume dancing.
Craig Irwin, an analyst with Roth MKM, commented on Yahoo Finance regarding the ambitious timeline for a sentient humanoid robot, saying, “They tried to launch this product with a dancer inside of a robot suit. It’s gonna be hard for them to catch up to Boston Dynamics. What they’ve shown us is really state of the art for 2014.”
In addition to Hyundai’s Boston Dynamics, Tesla faces competition from Japan’s Honda, Apptronik, and Chinese automakers Dongfeng Motor and Nio, which are experimenting with humanoid robots from UBTech Robotics in their facilities. BMW has also started using humanoid robots from Silicon Valley-based Figure since late January.
Following Musk’s remarks, Tesla stock rose over 3% on Monday, with shares remaining relatively stable year-to-date after a strong recovery over the previous two months. The company is set to announce its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi initiative.