Tesla’s stock saw an increase on Monday as Elon Musk highlighted the potential of the company’s humanoid robots. Musk announced on X that Tesla aims to have low production humanoid robots available for internal use next year, with hopes for high production for other companies by 2026.
During Tesla’s annual meeting in April, Musk mentioned that the Optimus robot would enter limited production by 2025, predicting over 1,000 units would be operational by year-end. Although two robots are currently on the factory floor, Tesla has not disclosed their specific functions.
Musk has previously speculated that the robots could significantly boost Tesla’s market capitalization, estimating an addition of $20 trillion if successful. The robots are not expected to be available for sale until late 2025, with anticipated prices ranging between $20,000 and $30,000.
The exact definition of “genuinely useful” robots remains vague. Earlier demonstrations have faced skepticism; for instance, a video of the Optimus robot folding a shirt was criticized for being controlled off-screen by a human.
Tesla’s introduction of the Optimus robot in 2021, which featured a dancer in a robot costume, raised questions about the authenticity of its demonstrations. Roth MKM analyst Craig Irwin remarked on Yahoo Finance that achieving a fully functional humanoid robot by 2025 seems ambitious, especially when considering Tesla’s past promotional tactics, which he compared unfavorably to Boston Dynamics.
In addition to Hyundai’s Boston Dynamics, Tesla will face competition from Honda and Apptronik. Chinese manufacturers Dongfeng Motor and Nio are experimenting with humanoid robots from UBTech Robotics on their production lines, while BMW has incorporated humanoid robots from Silicon Valley-based Figure in its operations since January.
Following Musk’s statements, Tesla’s stock rose more than 3% on Monday, although it remains relatively stable year-to-date after recovering significantly in recent months. The company will disclose its second-quarter earnings on Tuesday, where Musk is expected to provide updates about the long-awaited robotaxi rollout.