Tesla’s stock saw an increase on Monday as CEO Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk stated on X that Tesla is set to have “genuinely useful humanoid robots” in limited production for internal use next year, with plans for larger-scale production for external companies by 2026.
During Tesla’s annual meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, projecting that over 1,000 units would be operational at Tesla by year-end. Currently, two robots are being utilized on the factory floor, although their specific functions remain undisclosed.
Musk has previously speculated that these robots could significantly boost Tesla’s market capitalization by as much as $20 trillion. However, the robots are not expected to be available for sale until late 2025, with projected pricing between $20,000 and $30,000.
There is some skepticism about the practicality of these robots, as Musk’s descriptions of them as “genuinely useful” have raised questions. Past demonstrations of the robots, such as a video showing an Optimus purportedly folding a shirt, have faced criticism for being misleading, with allegations that the task was actually performed by a person off-camera.
This is not the first time Tesla has faced scrutiny regarding its robot presentations. The company initially introduced the Optimus project in 2021 with a promotional event featuring a dancer in a robot costume.
Analyst Craig Irwin from Roth MKM expressed doubts on Yahoo Finance, remarking on the challenges Tesla may face in competing with established robotics companies like Boston Dynamics. He noted that the technology Tesla showcased appears outdated compared to advancements in the field.
Tesla is also up against competitors such as Hyundai’s Boston Dynamics, Honda, and Apptronik, as well as Chinese firms like Dongfeng Motor and Nio, which are testing humanoid robots in their production lines. BMW has also employed Silicon Valley-based Figure’s humanoid robots since January.
Following Musk’s comments, Tesla’s stock rose over 3% on Monday, stabilizing year-to-date after a significant rebound in the past two months. Tesla will report its second-quarter earnings on Tuesday, where Musk is anticipated to provide an update on the delayed robotaxi initiative.