Tesla’s stock is experiencing an upward trend as CEO Elon Musk continues to highlight the potential benefits of the company’s humanoid robots.
On Monday, Musk shared on X that Tesla aims to produce useful humanoid robots for internal use in low numbers next year, with hopes for higher production levels for external clients by 2026.
During a shareholder meeting in April, Musk mentioned that the Optimus robot would enter limited production in 2025, projecting that over 1,000 robots could be operational at Tesla by the end of that year. Currently, two robots are already present on the factory floor, although the company has not disclosed their specific tasks.
Musk previously suggested that these robots could significantly enhance Tesla’s market value, potentially adding as much as $20 trillion to its capitalization. However, they are not expected to be available for purchase until late 2025, with an anticipated price range between $20,000 and $30,000.
There remains some ambiguity regarding Musk’s claim that the robots will be “genuinely useful.” Previous demonstrations have been met with skepticism; for instance, a video showcasing an Optimus robot folding a shirt was accused of featuring human control from off-screen.
Tesla has faced criticisms in the past regarding the way it has presented its robot developments. The initial reveal of the Optimus project in 2021 was marked by a promotional event featuring a person dancing in a robot costume.
Analyst Craig Irwin from Roth MKM expressed doubts about Tesla’s capabilities in this field, suggesting that the company may struggle to compete with established players like Boston Dynamics. He pointed out that Tesla’s current robotic offerings seem outdated compared to industry standards from nearly a decade ago.
In addition to Boston Dynamics, Tesla is up against competitors including Honda and Apptronik. Chinese firms Dongfeng Motor and Nio are also trialing humanoid robots created by UBTech Robotics in their production lines, while BMW has been utilizing humanoid robots from Silicon Valley’s Figure since early this year.
Following Musk’s remarks, Tesla’s shares climbed over 3% on Monday, maintaining a relatively stable position year-to-date after a significant recovery in recent months.
Tesla is scheduled to announce its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the long-awaited robotaxi announcement.