Tesla’s stock experienced a rise on Monday as Elon Musk highlighted the potential value of the company’s humanoid robots. On social media, Musk announced that Tesla plans to begin low production of genuinely useful humanoid robots for internal use next year, with hopes for higher production for other companies by 2026.
At Tesla’s annual meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, forecasting over 1,000 robots operating at Tesla by year-end. Currently, two robots are in use on the factory floor, though Tesla has not disclosed their specific tasks.
Musk has previously suggested that the introduction of these robots could increase Tesla’s market capitalization significantly, estimating a potential addition of $20 trillion. The robots are anticipated to hit the market by late 2025, with prices ranging from $20,000 to $30,000.
What Musk means by “genuinely useful” remains unclear, as previous demonstrations have drawn skepticism. Notably, a May video showcasing an Optimus robot folding a shirt was criticized for appearing to involve off-screen human assistance.
Tesla has a history of using elaborate presentations to promote its robotics projects, including a 2021 reveal that featured a person in a robot costume.
Industry analysts are doubtful about Tesla’s ability to compete with established firms like Boston Dynamics. Analyst Craig Irwin remarked that Tesla’s demonstrations seem outdated compared to more advanced robotics technology.
Tesla faces competition not just from Boston Dynamics, but also from Honda, Apptronik, and various Chinese automakers like Dongfeng Motor and Nio, along with BMW, which has been utilizing humanoid robots developed by Figure.
Following Musk’s comments, Tesla’s stock climbed over 3% on Monday. Year-to-date, shares have stabilized after a significant recovery over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi rollout.