Tesla’s stock experienced an uptick on Monday as CEO Elon Musk continues to advocate for the promising potential of the company’s humanoid robots.
Musk shared on social media that Tesla plans to have “genuinely useful humanoid robots” in limited production for internal use next year, with high production availability anticipated for other companies by 2026. Previously, during an April meeting with shareholders, Musk indicated that the Optimus robot would enter limited production in 2025, aiming for over 1,000 units to be operational at Tesla by year’s end. Currently, two robots are already on the factory floor, although the company has not disclosed their specific tasks.
Musk has made bold claims regarding the financial impact of these robots, suggesting they could add up to $20 trillion to Tesla’s market capitalization. The robots are not expected to be available for purchase until late 2025, with anticipated prices ranging from $20,000 to $30,000.
However, the definition of “genuinely useful” in terms of the robots remains somewhat ambiguous. Previous demonstrations have faced skepticism; in May, Tesla was criticized for a video showing an Optimus robot folding laundry, which appeared to involve external human control.
Skepticism surrounding Tesla’s presentation of the robots isn’t new, as the initial reveal of the Optimus project in 2021 featured a dancer in a robot costume, raising questions about the project’s authenticity and capabilities.
Analyst Craig Irwin from Roth MKM commented on the challenges Tesla faces, noting that “a sentient humanoid robot by 2025” seems overly ambitious, especially given past presentations that showcased technology viewed as outdated compared to competitors like Boston Dynamics.
In addition to competition from Boston Dynamics and Hyundai, Tesla also finds itself up against Honda and Apptronik of Japan. Chinese companies Dongfeng Motor and Nio are experimenting with humanoid robots from UBTech Robotics on their production lines, while BMW has integrated humanoid robots from Silicon Valley-based Figure into its operations since early this year.
On the back of Musk’s remarks, Tesla’s stock rose over 3% on Monday. Year-to-date, the shares remain relatively stable following a notable recovery in recent months. The company is scheduled to announce its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the long-delayed robotaxi project.