Tesla’s stock experienced a notable uptick on Monday, buoyed by Elon Musk’s enthusiastic promotion of the company’s humanoid robots. In a post on social media platform X, Musk outlined an optimistic timeline for Tesla’s humanoid robot, stating that they would achieve low production for internal use next year, with hopes for higher production levels for external customers by 2026.
During Tesla’s annual meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, projecting that over 1,000 units would be operational at Tesla facilities by the end of that year. While two prototypes are currently in use on the factory floor, the specific tasks they perform remain undisclosed.
Musk has speculated that the potential introduction of these robots could add an astonishing $20 trillion to Tesla’s market capitalization, although the robots are not expected to hit the market until late 2025 and will have a projected price tag of between $20,000 and $30,000 each.
However, skepticism persists regarding the functionality of these robots. His previous claims about the robots being “genuinely useful” have been met with doubts, particularly after earlier demonstrations were criticized for lacking authenticity. An instance in May involved accusations against Tesla for showcasing a robot folding a shirt, which was allegedly operated remotely by a person.
Analysts have voiced concerns over Tesla’s ability to compete with established players in the robotics field, such as Boston Dynamics and other major robotics firms like Honda and Apptronik. The competition is further compounded by advancements from Chinese companies, which are experimenting with humanoid robots on production lines.
Despite these challenges, Tesla’s shares climbed over 3% on the strength of Musk’s statements, reflecting market belief in the long-term potential of the company. The stock has remained stable year-to-date, showing resilience after a significant rally in recent months.
Investors will be looking for further insights during Tesla’s upcoming second-quarter earnings report, where Musk is expected to address the progress on the long-anticipated robotaxi initiative.
In summary, while the projections for Tesla’s humanoid robots present an ambitious vision for the future, the skepticism surrounding their viability and functionality is significant. However, the continued interest reflected in stock performance suggests that many investors remain optimistic about the company’s innovation trajectory.