Tesla’s stock saw an increase on Monday, driven by Elon Musk’s ongoing promotion of the potential value of the company’s humanoid robots.
In a post on X, Musk stated that Tesla is poised to have “genuinely useful humanoid robots” in limited production for internal use next year, with hopes for larger production for other companies by 2026. Earlier in April, he had indicated that Tesla’s Optimus robots would enter limited production in 2025, expecting more than 1,000 robots to be operational by year-end, though it remains unclear what tasks these robots will perform.
Musk has suggested that Optimus could potentially add $20 trillion to Tesla’s market capitalization, with commercial sales anticipated to begin by the end of 2025, priced between $20,000 and $30,000. However, skepticism remains regarding their practical utility, as past demonstrations have fallen short. For example, a video released in May showed an Optimus robot folding a shirt, but it was later alleged that the robot was being controlled by an operator off-screen.
Notably, Tesla has a history of showcasing its robot project using theatrical methods, such as its 2021 introduction where a dancer donned a robot costume. Analysts have expressed doubt about Tesla’s ability to compete with established players in the robotics field. Craig Irwin, an analyst at Roth MKM, commented that Tesla’s efforts appear dated when compared to advancements made by companies like Boston Dynamics.
Alongside competitors like Hyundai’s Boston Dynamics, Honda, Apptronik, and Chinese automakers including Nio and Dongfeng Motor, which are integrating humanoid robots into their production lines, Tesla faces significant competition in the robotics sector.
Following Musk’s remarks, Tesla’s stock rose over 3% on Monday. Year-to-date, the shares have remained relatively stable after experiencing a substantial recovery in the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the long-awaited robotaxi initiative.