Tesla’s stock experienced an increase on Monday as Elon Musk highlighted the potential value of the company’s humanoid robots. Musk announced on X that Tesla plans to produce genuinely useful humanoid robots in small quantities for internal use by next year and hopes to ramp up production for other companies by 2026.
During Tesla’s annual meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, with a projection of over 1,000 robots operational by the end of that year. Currently, two robots are working on the factory floor, although Tesla has not disclosed their specific roles.
Musk has also suggested that the introduction of these robots could significantly enhance the company’s market value, estimating a potential increase of $20 trillion. The robots are not expected to be available for purchase until late 2025, with anticipated prices ranging from $20,000 to $30,000.
There is some ambiguity regarding Musk’s assertion that the robots will be “genuinely useful,” as previous demonstrations have drawn skepticism. For instance, in May, Tesla faced criticism for a video that appeared to show an Optimus robot folding a shirt, which was alleged to have been manipulated by a person off-screen.
Tesla has previously faced accusations of misleading presentations, having introduced its Optimus project in 2021 with a stunt featuring a dancer in a robot costume. Analyst Craig Irwin from Roth MKM expressed doubt about Tesla’s ability to compete effectively in the humanoid robot space, citing concerns over the technology’s current capabilities compared to industry leaders like Boston Dynamics.
In addition to Boston Dynamics, Tesla will compete with Honda and Apptronik, while companies like Dongfeng Motor and Nio are testing humanoid robots from UBTech Robotics. BMW has also been utilizing humanoid robots from Figure in its operations since January.
Following Musk’s statements, Tesla’s stock rose over 3% on Monday. Year-to-date, the shares have remained relatively stable after a significant rebound in the last couple of months. The company is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide an update on the delayed robotaxi project.