Tesla’s stock experienced a rise on Monday as Elon Musk continued to highlight the potential value of the company’s humanoid robots. Musk, in a post on X, indicated that Tesla would produce genuinely useful humanoid robots for internal purposes next year, with hopes for full-scale production for other companies by 2026.
During Tesla’s annual meeting in April, Musk previously stated that the Optimus robot would enter limited production in 2025. He anticipated that by the end of that year, over 1,000 robots would be operational within Tesla. While two robots are already present on the production floor, the specific tasks they are performing remain undisclosed.
Musk also shared a projection in April that the robot product could potentially increase Tesla’s market capitalization by $20 trillion. Although the robots are not expected to be available for sale until the end of 2025, their projected price range is between $20,000 and $30,000.
However, there’s ambiguity regarding what Musk means by referring to the robots as “genuinely useful.” Previous demonstrations of the product have faced skepticism; for instance, in May, Tesla was criticized for sharing a video where an Optimus appeared to fold a shirt, which was actually manipulated by an off-screen operator.
This is not the first instance where Tesla has been accused of misleading displays regarding its robots. The Optimus project was notably introduced in 2021 with a presentation featuring a person dancing in a robot costume.
Industry analysts, such as Craig Irwin from MKM, expressed doubt over the company’s timeline, questioning the feasibility of producing a sentient humanoid robot by 2025. He pointed out that catching up to competitors like Boston Dynamics may prove challenging, given the technology demonstrated by Tesla appears outdated.
Tesla will face competition not only from Hyundai’s Boston Dynamics but also from Japan’s Honda and Apptronik. Additionally, Chinese companies Dongfeng Motor and Nio are testing humanoid robots from UBTech Robotics in their production lines, while BMW has been utilizing humanoid robots from Figure since late January.
Following Musk’s remarks, Tesla’s stock surged by over 3% on Monday. Year-to-date, shares have remained relatively stable after experiencing a significant rebound over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, during which Musk is expected to provide updates on the company’s long-awaited robotaxi program.