Tesla’s stock experienced an uptick on Monday as Elon Musk emphasized the potential of the company’s humanoid robots.
Musk revealed on social media that Tesla plans to have “genuinely useful humanoid robots” in limited production for internal use by next year, with an aim for high production for external clients by 2026. During Tesla’s annual shareholder meeting in April, Musk mentioned that the Optimus robots would begin limited production in 2025, with over 1,000 expected to be operational at Tesla by year-end. Currently, two robots are present on the factory floor, although Tesla has not disclosed their specific functions.
Musk previously suggested that the introduction of these robots could potentially add $20 trillion to Tesla’s market value. However, the robots are not anticipated to be available for purchase until late 2025, with a price range projected between $20,000 and $30,000.
There is some skepticism regarding Musk’s claim of the robots being “genuinely useful.” Previous demonstrations have not met expectations; in one instance, a video was alleged to show a robot folding a shirt, which was later contested as being controlled by an off-screen individual.
Critics note that Tesla has previously showcased its robot project in 2021 with a dancer in a robot suit, casting doubts on the seriousness of the endeavor. Analyst Craig Irwin from Roth MKM expressed that Musk’s ambition for a sentient humanoid robot by 2025 seems unrealistic, particularly in light of the advancements made by competitors like Boston Dynamics, Honda, and others.
In the competitive landscape, Tesla faces challenges from established players such as Hyundai’s Boston Dynamics, Japanese automaker Honda, and several Chinese companies testing humanoid robots in manufacturing settings.
Despite the skepticism, Tesla’s stock rose over 3% on Monday following Musk’s announcements. Year-to-date, shares have remained largely stable after a significant recovery in recent months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the anticipated robotaxi launch.