Tesla shares experienced an uptick on Monday as CEO Elon Musk continued to highlight the potential of the company’s humanoid robots.
Musk announced via X that Tesla expects to have “genuinely useful humanoid robots” produced in limited quantities for internal use by next year, and they aim for higher production levels to meet external demand by 2026.
During Tesla’s annual shareholder meeting in April, Musk projected that the robot, named Optimus, would enter limited production by 2025, with over 1,000 units potentially in operation at Tesla facilities by year’s end. While two prototypes are already present in the factory, Tesla has not disclosed their specific tasks.
Musk indicated the robots could significantly boost Tesla’s market value, potentially adding up to $20 trillion. However, these robots are not anticipated to be available for sale until late 2025, with a pricing range between $20,000 and $30,000.
There remains some ambiguity regarding what Musk refers to as “genuinely useful” capabilities. Previous demonstrations of the robots have faced skepticism; in one instance, a video showed a robot folding a shirt, which was later revealed to be remotely controlled by a person unseen in the frame.
Tesla has a history of showcasing its robotic endeavors in an unconventional manner, launching the Optimus project in 2021 with a dance performance by a person in a robot costume.
Industry analysts express doubt about Tesla’s ability to keep pace with established competitors like Boston Dynamics, with MKM analyst Craig Irwin noting that the technology displayed is reminiscent of developments from nearly a decade ago.
In addition to Boston Dynamics, Tesla will face competition from other companies such as Honda, Apptronik, and Chinese firms like Dongfeng Motor and Nio, which are experimenting with humanoid robots on their production lines. BMW has also integrated humanoid robots from Silicon Valley-based Figure into its operations since early this year.
Tesla’s stock saw an increase of over 3% on Monday following Musk’s remarks, although it remains relatively stable year-to-date after a notable recovery in the past two months. The company is set to release its second-quarter earnings on Tuesday, where Musk is expected to address the delayed launch of its robotaxi service.