Tesla’s stock experienced a significant increase on Monday as CEO Elon Musk continued to highlight the potential of the company’s humanoid robots. Musk shared on X that Tesla plans to have useful humanoid robots in limited production for internal use next year and aims for high production for external companies by 2026.
During Tesla’s annual meeting in April, Musk indicated that the Optimus robot would enter limited production by 2025, projecting that over 1,000 units would be operational within Tesla by year’s end. Although two robots are currently in use at the factory, Tesla has not disclosed their specific functions.
Musk previously suggested that the introduction of these robots could add approximately $20 trillion to Tesla’s market valuation. The robots are expected to become available for purchase at prices ranging from $20,000 to $30,000, but they are not anticipated to hit the market until late 2025.
Despite these ambitious projections, there is skepticism about Musk’s claims regarding the robots’ utility. Past demonstrations have raised questions, such as a controversial video in which a supposed Optimus robot appeared to fold a shirt while being controlled by someone off-screen. Critics have pointed out that Tesla has previously employed theatrical elements in its presentations, including the initial unveiling of the Optimus project in 2021 featuring a dancer in a robot costume.
Analyst Craig Irwin from Roth MKM expressed doubts about Tesla’s ability to effectively compete in the humanoid robot sector, referencing the advancements made by companies like Boston Dynamics and pointing out that Tesla’s showcased technology seems outdated.
In addition to Boston Dynamics, Tesla faces competition from Honda, Apptronik, and Chinese firms like Dongfeng Motor and Nio, which are testing humanoid robots developed by UBTech Robotics in their factories. BMW has also incorporated humanoid robots from Silicon Valley-based Figure into its operations since early this year.
Tesla’s stock rose more than 3% following Musk’s comments, remaining stable year-to-date after a notable recovery over the past two months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi project.