Tesla’s stock saw an increase on Monday as CEO Elon Musk continued to highlight the potential benefits of the company’s humanoid robots. Musk stated on social media platform X that Tesla aims to have genuinely useful humanoid robots in low production for internal purposes by next year, with hopes of ramping up to high production for external clients in 2026.
During Tesla’s annual meeting in April, Musk had indicated that the Optimus robot project would move into limited production by 2025, predicting that over 1,000 robots could be operational by year-end. Currently, two robots are present on the factory floor, although their specific tasks remain undisclosed.
Musk previously suggested that the introduction of these robots could potentially increase Tesla’s market value by as much as $20 trillion. However, the robots are not expected to be available for purchase until late 2025, with anticipated prices ranging from $20,000 to $30,000.
The specifics of what Musk means by “genuinely useful” robots are somewhat ambiguous. Previous product demonstrations have faced scrutiny, such as a video in May that purportedly showed an Optimus folding a shirt, which was later revealed to have involved a person controlling the robot off-camera.
Tesla has faced criticism for its promotional tactics, with past announcements being seen as misleading. Roth MKM analyst Craig Irwin commented on Yahoo Finance that the competition Tesla faces is significant, particularly from companies like Boston Dynamics, which have advanced robotics technology.
Alongside Hyundai’s Boston Dynamics, Tesla will also compete against Honda and Apptronik in the humanoid robotics space. Chinese companies Dongfeng Motor and Nio are testing humanoid robots developed by UBTech Robotics in their production lines, while BMW has been utilizing humanoid robots from the Silicon Valley company Figure since January.
Following Musk’s remarks, Tesla’s stock rose over 3% on Monday, maintaining a flat position year-to-date after a significant recovery in the past couple of months. The company will report its second-quarter earnings on Tuesday, where Musk is expected to provide insights into the delayed robotaxi project.