Tesla’s stock experienced a rise on Monday as Elon Musk continued to emphasize the potential value of the company’s humanoid robots.
Musk shared on X that Tesla is set to produce “genuinely useful humanoid robots” for internal use next year, with hopes for high production levels to serve other companies by 2026. In April, he had informed shareholders that production of the Optimus robot would begin in limited numbers by 2025, predicting that over 1,000 units could be operational at Tesla by the end of that year. Currently, two robots are reported to be functioning on the factory floor, though Tesla has not disclosed their specific tasks.
Musk has previously suggested that the introduction of these robots could potentially add $20 trillion to Tesla’s market capitalization. However, the robots are not expected to be available for sale until late 2025, with projected pricing between $20,000 and $30,000.
Despite Musk’s optimistic claims about the robots’ utility, previous product demonstrations have been met with skepticism. In May, Tesla faced criticism for a video showcasing an Optimus robot folding a shirt, which was revealed to have been manipulated by an off-screen operator. This is not the first instance of Tesla using questionable methods to showcase their robots; the launch of the Optimus project in 2021 included a demonstration that featured a person dancing in a robot costume.
Analysts are cautious about Tesla’s ability to compete in the humanoid robot space, noting that established companies like Boston Dynamics have been working on advanced robotics technology for some time. Craig Irwin, an analyst at MKM, remarked on Yahoo Finance that the progress made by Tesla appears outdated compared to current industry standards.
Tesla faces competition from various firms, including Hyundai’s Boston Dynamics, Honda, and Apptronik. Chinese companies Dongfeng Motor and Nio are also testing humanoid robots by UBTech Robotics at their production lines, while BMW has incorporated Silicon Valley’s Figure humanoid robots in its operations since January.
Following Musk’s remarks, Tesla’s shares climbed over 3% on Monday. The stock has remained relatively stable year-to-date after a significant recovery in recent months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates regarding the delayed robotaxi reveal.