Tesla’s stock saw an increase on Monday as CEO Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk shared on X that Tesla plans to have genuinely useful humanoid robots in low production for internal use by next year and aims for high production for other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk had announced that the Optimus robots would enter limited production in 2025, with a vision of having over 1,000 robots operational by the end of that year. Currently, two robots are already present on the factory floor, though Tesla has not disclosed their specific tasks.
Musk speculated in April that the introduction of these robots could potentially add $20 trillion to Tesla’s market capitalization. The robots are not expected to be available for sale until late 2025, with estimated prices ranging from $20,000 to $30,000.
Details about what Musk considers “genuinely useful” remain vague, especially considering past product demonstrations have faced criticism. In May, there were allegations that a video showcasing an Optimus robot folding a shirt actually featured someone controlling the robot off-screen.
Tesla has a history of grand presentations, such as the unveiling of the Optimus robot project in 2021, which featured a performer dancing inside a robot costume. Craig Irwin, an analyst at Roth MKM, expressed skepticism in a Yahoo Finance interview, stating that achieving a sentient humanoid robot by 2025 seems unrealistic, especially given Tesla’s previous presentations.
Tesla will face competition not only from Hyundai’s Boston Dynamics but also from Japanese companies like Honda and Apptronik. Additionally, Chinese manufacturers, including Dongfeng Motor and Nio, are experimenting with humanoid robots developed by UBTech Robotics in their factories, while BMW has been using humanoid robots from Silicon Valley’s Figure since January.
Following Musk’s comments, Tesla’s stock rose over 3% on Monday. Year-to-date, shares have remained relatively stable after a significant recovery over the prior two months. Tesla is set to release its second-quarter earnings on Tuesday, during which Musk is expected to provide updates on the postponed robotaxi launch.