Tesla’s stock experienced an uptick on Monday as CEO Elon Musk touted the potential value of the company’s humanoid robots. Musk announced on social media that Tesla plans to have “genuinely useful humanoid robots” produced for internal use by next year, with hopes for high production for external companies by 2026.
During Tesla’s annual meeting in April, Musk revealed that the company’s robot, named Optimus, is set to enter limited production in 2025. He anticipates that over 1,000 robots will be operational at Tesla by the end of that year. Currently, two robots are already on the factory floor, although Tesla has not disclosed their specific functions.
Musk speculated that the robots could add a staggering $20 trillion to the company’s market value, with expected prices ranging from $20,000 to $30,000 for each unit once they go on sale at the end of 2025.
However, the actual utility of these robots remains uncertain. Previous demonstrations have raised eyebrows; for instance, a video released by Tesla showing an Optimus robot folding a shirt was criticized for allegedly being controlled by an off-screen operator. This has led observers to question the authenticity of Tesla’s displays, particularly given the company’s initial launch of the Optimus project in 2021, which featured a dancer in a robot costume.
Analyst Craig Irwin from MKM expressed skepticism, comparing Tesla’s efforts to established companies like Boston Dynamics, which are recognized for their advanced robotics. Irwin noted that Tesla’s current offerings might seem outdated by today’s standards.
Tesla is not only facing competition from Hyundai’s Boston Dynamics, but also from Honda and Apptronik in Japan. Additionally, Chinese automakers Dongfeng Motor and Nio have started testing humanoid robots from UBTech Robotics in their facilities, while BMW has been utilizing humanoid robots developed by Figure in its operations since early this year.
Following Musk’s remarks, Tesla’s shares rose by more than 3% on Monday. The stock has remained relatively stable this year 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 insights on the much-anticipated robotaxi rollout.