Tesla’s stock experienced an increase on Monday as Elon Musk continues to highlight the potential value of the company’s humanoid robots. Musk stated on social media that Tesla is planning to produce useful humanoid robots for internal use in low volumes next year, with hopes of scaling production for external companies by 2026.
During Tesla’s annual meeting in April, Musk had outlined that the company’s Optimus robots would enter limited production in 2025, predicting that over 1,000 robots would be operational at Tesla by the end of that year. Currently, two robots are stationed on the factory floor, though the specific tasks they perform have not been disclosed.
Musk previously suggested that the introduction of these robots could lead to a significant increase in Tesla’s market capitalization, potentially by as much as $20 trillion. The robots are not expected to be available for public sale until late 2025, with anticipated prices ranging from $20,000 to $30,000.
There is some uncertainty surrounding Musk’s description of the robots as “genuinely useful,” especially given that past demonstrations have raised eyebrows. In May, Tesla faced criticism for a video featuring an Optimus robot supposedly folding laundry, which many believed was being operated by a human out of view.
This is not the first instance of Tesla generating excitement around its robotics initiatives. The unveiling of the Optimus project in 2021 featured a dancer in a robot costume, leading to skepticism about the company’s technological capabilities.
Analyst Craig Irwin from Roth MKM expressed doubt about Tesla’s ability to compete with established robotics companies like Boston Dynamics, asserting that the technology showcased by Tesla seems outdated compared to current industry standards.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik in Japan, as well as Chinese companies like Dongfeng Motor and Nio, which are trialing humanoid robots developed by UBTech Robotics. BMW has also integrated humanoid robots from Silicon Valley’s Figure into its operations since January.
Following Musk’s comments, Tesla stock rose by over 3% on Monday. The shares have remained relatively stable throughout the year, after experiencing a significant recovery over the past two months. Tesla is set to announce its second-quarter earnings on Tuesday, where an update regarding the delayed introduction of its robotaxi service is anticipated.