Tesla’s stock experienced an increase on Monday as CEO Elon Musk promoted the potential value of the company’s humanoid robots. Musk announced on X that Tesla plans to have “genuinely useful” humanoid robots available for internal use in low production next year, with hopes for high production for other companies by 2026.
In April, during Tesla’s annual meeting, Musk mentioned that the Optimus robot would enter limited production in 2025, predicting over 1,000 units would be operational within the company by year’s end. Currently, two robots are already present on the factory floor, although their specific tasks have not been disclosed.
Musk previously suggested that the robots could potentially increase the company’s market capitalization by $20 trillion, though they are not expected to be commercially available until late 2025, with anticipated prices between $20,000 and $30,000.
The exact nature of the robots’ functionality remains ambiguous. Previous demonstrations have raised skepticism, with accusations that a video showcasing an Optimus robot folding a shirt was actually manipulated by an off-screen operator. Tesla’s initial reveal of the Optimus project in 2021 also sparked doubt, as it featured a dancer in a robot costume.
Analysts express concern about Tesla’s ability to compete with established robotics companies. MKM analyst Craig Irwin pointed out the disparity in sophistication compared to competitors like Boston Dynamics.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik, as well as Chinese manufacturers such as Dongfeng Motor and Nio, which are trialing humanoid robots from UBTech Robotics. BMW has also integrated humanoid robots from Figure in its operations since late January.
On Monday, Tesla’s stock rose by over 3% following Musk’s comments. Year-to-date, shares remain relatively unchanged after a significant recovery over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the delayed launch of the robotaxi.