Tesla’s stock saw an uptick on Monday as Elon Musk continued to emphasize the potential value of the company’s humanoid robots. Musk announced on social media that Tesla would begin low production of genuinely useful humanoid robots for internal use next year, with hopes of high production for external clients by 2026.
During Tesla’s annual meeting in April, Musk shared his plans for the Optimus robot, projecting that it would enter limited production in 2025. He estimated that by year-end, over 1,000 robots could be operational within Tesla. Currently, two robots are reportedly present on the factory floor, although their specific functions remain undisclosed.
Musk previously suggested that the introduction of these robots could increase the company’s market capitalization by $20 trillion. The robots are not anticipated to be available for sale before the end of 2025, with prospective prices ranging from $20,000 to $30,000.
There is some skepticism about Musk’s claim that the robots will be “genuinely useful.” Previous demonstrations of the technology have drawn criticism; for instance, a video released in May showed an Optimus robot folding a shirt, later discovered to be controlled by a human off-screen.
Tesla’s history includes instances of overhyping its products. The company first revealed its Optimus robot project in 2021, featuring a person in a costume performing dance moves.
MKM analyst Craig Irwin voiced doubts about Tesla’s ability to catch up with competitors like Boston Dynamics, pointing out that the company’s technology appears outdated compared to what was cutting edge nearly a decade ago.
Alongside Boston Dynamics, Tesla faces competition from Honda, Apptronik, and Chinese manufacturers Dongfeng Motor and Nio, which are trialing humanoid robots from UBTech Robotics on their production lines. Additionally, BMW has been working with humanoid robots from Silicon Valley’s Figure since January.
Following Musk’s comments, Tesla’s stock rose over 3% on Monday, although shares have seen little change overall this year after a significant rebound in the past two months. The company is set to release its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi project.