Tesla shares saw an increase on Monday as Elon Musk emphasized the potential significance of the company’s humanoid robots. Musk stated on X that Tesla will begin limited production of useful humanoid robots for internal use next year and aims for high production for external businesses by 2026.
During Tesla’s annual meeting in April, Musk indicated that the Optimus robots would start limited production in 2025, forecasting over 1,000 robots operational at Tesla by year’s end. Currently, two robots are at the factory, although Tesla has not disclosed their specific tasks.
Musk suggested that these robots could contribute an additional $20 trillion to Tesla’s market valuation. However, the robots are not anticipated to be available for purchase until late 2025, with expected prices ranging between $20,000 and $30,000.
There is some skepticism regarding Musk’s claims about the robots being “genuinely useful.” Prior demonstrations have faced criticism for lacking substance; for instance, in May, Tesla was accused of showcasing a robot folding a shirt, which was reportedly controlled by a human off-screen.
Tesla has a history of grand presentations regarding the Optimus robot, initially introduced in 2021 with a dancer in a robot costume. Industry analysts, like Craig Irwin from MKM, have expressed doubts about the viability of Tesla’s efforts in the face of competition from established companies like Boston Dynamics.
Tesla is up against competitors including Hyundai’s Boston Dynamics, Honda, and Apptronik. Meanwhile, some Chinese companies like Dongfeng Motor and Nio are experimenting with humanoid robots created by UBTech Robotics, and BMW has incorporated Figure’s humanoid robots in its operations since January.
Following Musk’s statements, Tesla’s stock price climbed over 3% on Monday. The shares have remained relatively stable year-to-date after a notable recovery over the past couple of months. Tesla is set to release its second-quarter earnings on Tuesday, where Musk is expected to discuss the delayed debut of the company’s robotaxi initiative.