Tesla’s stock saw a rise on Monday as CEO Elon Musk continued to emphasize the potential of the company’s humanoid robots. Musk announced on X that Tesla plans to have low production of genuinely useful humanoid robots for internal purposes next year, with hopes for high production for external companies by 2026.
During Tesla’s annual meeting in April, Musk projected that the Optimus robots would enter limited production in 2025, with over 1,000 robots expected to be operational by the end of that year. Currently, two robots are on the factory floor, although the company has not disclosed the tasks they are performing.
Musk suggested that the introduction of these robots could add as much as $20 trillion to Tesla’s market capitalization. These robots are not expected to be available for purchase until late 2025 and are projected to sell for between $20,000 and $30,000.
However, the specifics of what Musk means by “genuinely useful” remain vague. Previous demonstrations have received criticism, with accusations that a video showcasing an Optimus robot folding clothes involved off-screen assistance.
Tesla’s approach to showcasing its robotic technology has faced skepticism, notably when it first introduced the Optimus project in 2021, featuring a dancer in a robot costume.
Analyst Craig Irwin from Roth MKM commented on Yahoo Finance, pointing out the challenges Tesla may face in catching up to established competitors like Boston Dynamics, suggesting that their current demonstrations are outdated.
In addition to Boston Dynamics, Tesla will also compete with Honda, Apptronik, and Chinese automakers Dongfeng Motor and Nio, who are testing humanoid robots developed by UBTech Robotics in their production lines. BMW has been integrating humanoid robots from Silicon Valley’s Figure into its facilities since January.
In response to Musk’s comments, Tesla’s stock climbed over 3% on Monday. The shares have remained nearly flat year-to-date after experiencing a significant recovery over the past couple of months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates on the delayed robotaxi rollout.