Tesla’s stock experienced an uptick on Monday, fueled by Elon Musk’s latest remarks regarding the company’s humanoid robots.
Musk stated on X that Tesla plans to have genuinely useful humanoid robots available for internal operations as soon as next year, with hopes for broader production for external customers by 2026. During Tesla’s annual meeting in April, he mentioned that the Optimus robots would embark on limited production by 2025, anticipating that over 1,000 units could be working within the company by year-end. Currently, two robots are operational on the Tesla factory floor, though the specific tasks they perform have not been disclosed.
In April, Musk speculated about the potential impact of these robots, suggesting they could add $20 trillion to Tesla’s market valuation. The robots are not expected to be available for purchase until late 2025, with projected prices ranging from $20,000 to $30,000.
The exact nature of what Musk refers to as “genuinely useful” remains uncertain, as prior demonstrations have faced criticism. For instance, in May, Tesla was accused of showcasing a video where an Optimus robot appeared to fold a shirt, yet it was revealed that the actions were manipulated by an off-screen operator.
This is not the first incident where Tesla’s demonstrations have drawn skepticism; the introduction of the Optimus project in 2021 featured a dancer in a robot costume.
MKM analyst Craig Irwin expressed doubt on Yahoo Finance, questioning the feasibility of a truly sentient humanoid robot by 2025 and highlighting that Tesla’s past demonstrations have not matched the advancements seen in competitors like Boston Dynamics.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik, as well as Chinese manufacturers Dongfeng Motor and Nio, who are implementing humanoid robots from UBTech Robotics in their production processes. BMW has also been utilizing humanoid robots from Silicon Valley-based Figure since January.
Following Musk’s comments, Tesla’s stock rose over 3% on Monday. Despite this, shares have remained relatively flat for the year, with a significant recovery noted in the last two months.
Tesla is set to release its second-quarter earnings on Tuesday, during which Musk is expected to discuss the anticipated launch of the company’s delayed robotaxi.