Tesla’s stock experienced a rise on Monday as Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk stated on social media platform X that Tesla plans to have genuinely functional humanoid robots in limited production for internal use next year, with hopes of ramping up production for external clients by 2026.
During Tesla’s annual meeting with shareholders in April, Musk mentioned that the company’s Optimus robot would enter limited production by 2025, forecasting that over 1,000 robots would be operational at Tesla by the end of that year. Currently, two robots are in operation at Tesla’s factory, although their specific tasks have not been disclosed.
Musk earlier proposed a scenario where these robots could contribute an estimated $20 trillion to Tesla’s market value. The robots are not anticipated to be available for purchase until late 2025, with expected prices ranging from $20,000 to $30,000.
However, it remains uncertain what Musk means by “genuinely useful” in relation to the robots. Previous demonstrations have faced skepticism, with a notable instance in May where Tesla was accused of showcasing a video that depicted an Optimus performing a task under remote control rather than autonomously.
Tesla has previously been criticized for using theatrical presentations to promote its robots. The initial reveal of the Optimus project in 2021 included a dancer in a robot costume, raising questions about the authenticity of their development.
Analyst Craig Irwin from Roth MKM commented on Yahoo Finance, questioning the feasibility of achieving a sentient humanoid robot by 2025. He pointed out Tesla’s struggle to keep pace with established entities like Boston Dynamics, suggesting that their current offerings seem outdated.
In addition to Boston Dynamics and Hyundai, Tesla faces competition from Honda and Apptronik in Japan. Chinese companies Dongfeng Motor and Nio are exploring humanoid robot applications in their factories, while BMW has integrated robots from Silicon Valley’s Figure into its operations since January.
Following Musk’s remarks, Tesla’s stock increased by more than 3% on Monday. The stock has largely stabilized year-to-date, building on a significant recovery over the past two months.
Tesla is set to announce its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the highly anticipated robotaxi program.