Tesla shares experienced a rise on Monday as CEO Elon Musk continued to highlight the potential value of the company’s humanoid robots.
Musk posted on X that Tesla aims to have “genuinely useful humanoid robots” in limited production for internal use next year, with hopes for a larger scale production for other companies by 2026. In April, during Tesla’s annual shareholder meeting, Musk indicated that the Optimus robot would enter limited production in 2025, projecting that over 1,000 units could be operational at Tesla by the year’s end. Currently, two robots are reportedly functioning on the factory floor, but Tesla has not disclosed their specific roles.
Musk previously suggested that the introduction of these robots could potentially increase the company’s market capitalization by $20 trillion. The robots are not anticipated to be available for sale until late 2025, with expected prices ranging from $20,000 to $30,000.
However, the precise definition of “genuinely useful” robots remains unclear, especially given past demonstrations that have garnered skepticism. In May, Tesla faced criticism for showcasing a video of an Optimus robot folding a shirt, which was reportedly manipulated by an off-screen individual.
Skepticism surrounding Tesla’s robotic endeavors is further amplified by the company’s previous presentations. The Optimus robot project was famously introduced in 2021 with a performance involving an individual in a robot costume.
Analyst Craig Irwin from Roth MKM expressed doubt about Tesla’s timeline, stating, “A sentient humanoid robot by 2025? They previously launched this product with a dancer inside a robot suit. It’s going to be hard for them to catch up to Boston Dynamics,” noting that what Tesla has demonstrated so far is outdated compared to current standards.
Tesla is not only competing with Boston Dynamics but also faces challenges from other companies like Honda, Apptronik, and several Chinese automakers testing humanoid robots on production lines. BMW has also included humanoid robots from Figure in their operations since January.
Following Musk’s remarks, Tesla stock increased by over 3% on Monday. As of now, shares have remained relatively stable year-to-date after a significant resurgence in the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi launch.