Tesla’s stock experienced a jump on Monday as CEO Elon Musk continues to highlight the potential impact of the company’s humanoid robots. Musk announced on X that Tesla aims to have functional humanoid robots in limited production for internal use next year, with hopes for broader production for other companies by 2026.
In April, during Tesla’s annual meeting with shareholders, Musk mentioned that its humanoid robot, named Optimus, would enter limited production in 2025, forecasting that over 1,000 units could be operational at Tesla by year’s end. Currently, two robots are already in use on the factory floor, though Tesla has not disclosed their specific roles.
Musk previously suggested that the introduction of these robots could contribute $20 trillion to Tesla’s market value. However, the robots are not anticipated to be available for purchase until late 2025, with projected prices ranging between $20,000 and $30,000.
The definition of “genuinely useful” as described by Musk remains vague. Previous demonstrations of the robots have been met with skepticism; for instance, a video released in May purported to show an Optimus robot folding shirts, yet it was later revealed that a human off-screen was controlling the movements.
Musk’s past claims regarding the robot project have also drawn criticism, notably its 2021 debut featuring a performer in a robot costume. Analyst Craig Irwin from MKM expressed doubt about Tesla’s capabilities, comparing their progress to that of Boston Dynamics and suggesting that their current technology seems outdated.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik in Japan, as well as Chinese manufacturers like Dongfeng Motor and Nio, who are testing humanoid robots from UBTech Robotics in their production lines. BMW has also been integrating humanoid robots from Silicon Valley-based Figure into its operations since January.
On the heels of Musk’s remarks, Tesla’s stock climbed over 3% on Monday, maintaining a roughly stable position year-to-date after a substantial recovery in recent months. Tesla is scheduled to report its second-quarter earnings on Tuesday, where Musk is expected to update investors on the delayed launch of the company’s robotaxi service.