Tesla’s stock experienced an increase on Monday as CEO 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 for internal use in 2024, with hopes of reaching a higher production rate for external companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk mentioned that the humanoid robot, known as Optimus, would enter limited production in 2025, estimating that over 1,000 robots could be operational at Tesla by the end of that year. Currently, two robots are reported to be on the factory floor, although the specific tasks they perform remain undisclosed.
Musk has previously suggested that the introduction of these robots could potentially increase Tesla’s market capitalization by $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.
However, the practicality of these robots remains uncertain, as previous demonstrations have left critics skeptical. In May, Tesla faced criticism for showcasing a video of an Optimus robot folding a shirt, which was alleged to have been manipulated by an off-screen operator.
Analysts have also voiced concerns regarding the competition Tesla faces in the humanoid robotics field. Companies such as Boston Dynamics, Honda, Apptronik, Nio, and BMW are advancing their own robotic technologies, creating a challenging environment for Tesla.
Despite the skepticism surrounding the humanoid robots, Tesla’s stock rose over 3% on Monday, reflecting a positive investor reaction to Musk’s comments. Shares have remained relatively stable year-to-date after a significant rebound in recent months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the company’s pending robotaxi project.