Tesla’s stock is experiencing an increase on Monday as Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk announced on X that Tesla aims to have genuinely useful humanoid robots in low production for internal use next year, with hopes for higher production for other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk indicated that their Optimus robots would enter limited production in 2025, predicting that by the end of that year, over 1,000 robots would be operational at Tesla. Currently, two robots are already present on the factory floor, though the specific tasks they perform have not been disclosed.
Musk previously suggested that the humanoid robots could potentially add $20 trillion to the company’s market capitalization, although their sales are not expected to start until late 2025. When available, the robots are anticipated to sell for between $20,000 and $30,000.
However, skepticism surrounds Musk’s claims regarding the robots’ utility. Previous demonstrations have been criticized for lacking credibility, such as a May video showing an Optimus robot folding a shirt, which appeared to be operated by someone off-camera. Musk’s earlier presentation of the Optimus project included a dancer in a robot costume, leading to doubts about the project’s seriousness.
Analyst Craig Irwin from Roth MKM remarked on Yahoo Finance that the prospect of a sentient humanoid robot by 2025 seems far-fetched, given Tesla’s past presentations that seemed outdated compared to competitors like Boston Dynamics. In addition to Hyundai’s Boston Dynamics, Tesla will also face competition from Honda and Apptronik in Japan. Chinese automakers Dongfeng Motor and Nio are experimenting with humanoid robots from UBTech Robotics, while BMW has been utilizing humanoid robots from Silicon Valley’s Figure since January.
Following Musk’s remarks, Tesla’s stock jumped over 3% on Monday. The shares have remained relatively stable year-to-date after experiencing a significant rebound 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 much-anticipated delay of the robotaxi unveiling.