Tesla’s stock experienced an uptick on Monday, driven by CEO Elon Musk’s ongoing promotion of the potential value of the company’s humanoid robots. Musk shared on social media platform X that Tesla aims to have “genuinely useful humanoid robots” in limited production for internal use by next year and hopes for increased production for external companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk had previously stated that the Optimus robot program would enter limited production in 2025, forecasting that over 1,000 robots could be operational at Tesla by the end of that year. Currently, two robots are already deployed on the factory floor, although the company has not disclosed their specific tasks.
Musk mentioned that the introduction of these robots could significantly boost the company’s market valuation, potentially adding as much as $20 trillion. However, the robots are not anticipated to be available for sale until late 2025, with projected sale prices ranging between $20,000 and $30,000.
The specifics of what Musk refers to as “genuinely useful” remains unclear, especially since past demonstrations have drawn skepticism. For instance, in May, the company faced criticism for a video that appeared to show an Optimus robot folding a shirt, which was allegedly being manipulated remotely by an operator.
Tesla has a history of using questionable methods to showcase its robotics capabilities, previously revealing its Optimus robot project in 2021 with a performer in a robot costume dancing on stage.
MKM analyst Craig Irwin expressed doubts about Tesla’s ambitions, noting the challenges the company faces in catching up with competitors like Boston Dynamics. He remarked that Tesla’s technology appears to lag behind what was considered cutting-edge nearly a decade ago.
In addition to Hyundai’s Boston Dynamics, Tesla will contend with other players in the humanoid robot market, such as Honda, Apptronik, and Chinese automakers Dongfeng Motor and Nio, which are utilizing humanoid robots from UBTech Robotics. BMW has also integrated humanoid robots developed by Figure into its production facilities since January.
Following Musk’s comments, Tesla’s stock rose over 3% on Monday. The shares are relatively stable year-to-date after experiencing a significant recovery in recent months. Tesla is expected to report its second-quarter earnings on Tuesday, where Musk might provide updates on the company’s postponed robotaxi plans.