Tesla’s stock saw an increase on Monday as Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk stated on social media platform X that Tesla plans to have humanoid robots, labeled Optimus, in low production for internal use next year, with hopes for higher production for other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk indicated that limited production of Optimus would begin in 2025, predicting that over 1,000 of the robots could be operational at Tesla by year’s end. Currently, two robots are in use on the factory floor, although Tesla has not disclosed their specific roles.
Musk previously suggested that this product could boost the company’s market capitalization by as much as $20 trillion. The robots are anticipated to go on sale at the end of 2025, with prices expected to range between $20,000 and $30,000.
However, there has been skepticism surrounding the practicality of the robots. Musk’s claim of them being “genuinely useful” is vague, and prior demonstrations have failed to impress. For example, a video released in May showed an Optimus folding a shirt, but it was later revealed that the robot was being operated by a person off-screen.
Musk’s approach has drawn criticism in the past, particularly during the 2021 debut of the Optimus project, which featured a dancer in a robot costume.
Analyst Craig Irwin from MKM expressed doubts about the timeline, questioning the feasibility of having a sentient humanoid robot by 2025 and comparing Tesla’s progress to that of Boston Dynamics, suggesting Tesla’s technology feels outdated.
In addition to Boston Dynamics, Tesla faces competition from companies like Honda and Apptronik in Japan. Chinese manufacturers Dongfeng Motor and Nio are currently testing humanoid robots from UBTech Robotics in their production lines, and BMW has been utilizing robots from Silicon Valley’s Figure in their facilities since January.
Following Musk’s remarks, Tesla’s stock rose over 3% on Monday. Year-to-date, shares have remained relatively flat after a significant recovery in the past two months. Tesla will be reporting its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates regarding the delays in the robotaxi project.