Tesla’s stock experienced a significant increase on Monday as CEO Elon Musk continues to emphasize the value of the company’s humanoid robots. Musk announced on X that Tesla plans to produce truly functional humanoid robots for internal use by next year, with a target for broader production for other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk stated that the Optimus robot would enter limited production in 2025, predicting that over 1,000 units could be operational at Tesla by the end of the year. Currently, two robots are reportedly present on the factory floor, though their specific functions have not been disclosed.
Musk previously suggested that the introduction of these robots could potentially add $20 trillion to Tesla’s market value. Although the robots are not anticipated to be available for sale until late 2025, their expected price range is between $20,000 and $30,000.
The exact definition of “genuinely useful” robots, as Musk described them, remains uncertain. Previous demonstrations of the technology have raised eyebrows; for example, in May, Tesla faced criticism for releasing a video showing an Optimus robot folding a shirt, which was later revealed to be controlled by an off-screen individual.
Musk’s claims have evoked skepticism, particularly following Tesla’s initial introduction of the Optimus project in 2021, which included a dancer inside a robot suit. MKM analyst Craig Irwin pointed out the challenges Tesla faces in competing with established companies like Boston Dynamics, suggesting that their current offerings resemble technology from nearly a decade ago.
In addition to Boston Dynamics, Tesla will contend with competitors such as Honda and Apptronik. Chinese companies Dongfeng Motor and Nio are experimenting with humanoid robots from UBTech Robotics in their production lines, while BMW has incorporated humanoid robots from Silicon Valley’s Figure in its facilities since January.
Following Musk’s comments, Tesla’s stock rose more than 3% on Monday. Shares have remained stable year-to-date, following a major recovery over the past two months. Tesla is set to announce its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi rollout.