Tesla shares experienced an increase on Monday following Elon Musk’s recent emphasis on the potential impact of the company’s humanoid robots.
Musk announced on social media that Tesla plans to produce humanoid robots for internal use at low volumes next year, aiming for higher production levels for external clients by 2026. In April, during Tesla’s annual shareholder meeting, he indicated that the Optimus robot initiative would enter limited production in 2025, with projections of over 1,000 robots operational at Tesla by the year’s end. Currently, two robots are reportedly working on the factory floor, though their specific roles have not been disclosed.
Musk previously suggested that the introduction of these robots could add $20 trillion to Tesla’s market value. The commercial release of the robots is anticipated for late 2025, with pricing expected to range from $20,000 to $30,000.
Questions remain regarding Musk’s characterization of the robots as “genuinely useful.” Earlier demonstrations have raised skepticism; for instance, a video showing an Optimus robot folding a shirt was alleged to involve an off-screen operator controlling the action. In the past, Tesla has been criticized for using theatrical methods to showcase its robot concepts, including the initial unveiling of the Optimus project in 2021, which featured a dancer in a robot suit.
Industry analysts express doubts about Tesla’s ability to compete in the humanoid robot market, referencing established players like Boston Dynamics and noting that Tesla’s technology appears outdated compared to current standards.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik, as well as Chinese companies Dongfeng Motor and Nio, which are experimenting with humanoid robots from UBTech Robotics in their production lines. BMW has also incorporated Silicon Valley-based Figure’s humanoid robots into its operations since January.
Following Musk’s remarks, Tesla’s stock rose by over 3% on Monday. The stock has remained relatively stable year-to-date after a significant rebound over the past two months. Tesla is set to release its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed rollout of the company’s robotaxi service.