Tesla’s stock experienced a notable uptick on Monday as CEO Elon Musk continued to emphasize the potential value of the company’s humanoid robots. Musk announced via social media that Tesla plans to introduce genuinely useful humanoid robots for internal use in limited production next year, aiming for higher production by 2026 for external clients.
During Tesla’s annual meeting in April, Musk projected that Optimus, the humanoid robot project, would enter limited production by 2025, forecasting over 1,000 robots operational at Tesla by the year’s end. Currently, two robots are reported to be on the factory floor, yet specific details about their functions remain undisclosed.
Musk also suggested that the introduction of these robots could potentially increase Tesla’s market capitalization by $20 trillion. The robots, expected to launch for sale by late 2025, may be priced between $20,000 and $30,000.
However, clarity regarding what Musk means by “genuinely useful” remains elusive. Previous demonstrations of the robots have raised skepticism, including a May incident where a video purportedly showing an Optimus folding clothing was later suggested to involve off-screen human control.
Critics have noted Tesla’s tendency to present overhyped technology. MKM analyst Craig Irwin remarked on Yahoo Finance that the goal of a sentient humanoid robot by 2025 appears overly ambitious, referencing Tesla’s earlier presentation featuring a dancer dressed in a robot suit. Irwin described current offerings as outdated compared to competitors like Boston Dynamics.
In the competitive arena of humanoid robotics, Tesla faces challenges not only from Boston Dynamics but also from Japan’s Honda and Apptronik. Chinese companies Dongfeng Motor and Nio are exploring humanoid robots developed by UBTech Robotics for use in their production lines, while BMW has integrated humanoid robots from Silicon Valley’s Figure into their operations.
Tesla’s stock saw an increase of over 3% on Monday following Musk’s announcements. Year-to-date, shares have remained relatively stable after a significant recovery over the past two months.
The company is set to report its second-quarter earnings on Tuesday, during which Musk is expected to provide an update on the anticipated robotaxi debut.