Tesla’s stock experienced an increase on Monday as CEO Elon Musk emphasized the potential advantages of the company’s humanoid robots. Musk announced on X that Tesla plans to have genuinely useful humanoid robots in limited production for internal use next year, with hopes for broader commercialization by 2026.
During Tesla’s annual shareholder meeting in April, Musk had indicated that production of the robot, known as Optimus, would commence in 2025, projecting that over 1,000 units would be deployed within the company by the year’s end. Currently, two robots are operational at Tesla’s factory, though the specific tasks they perform remain undisclosed.
Musk previously claimed that the humanoid robots could significantly enhance Tesla’s market value, potentially adding up to $20 trillion. However, the sale of these robots is not anticipated until late 2025, with expected prices ranging between $20,000 and $30,000.
The exact definition of “genuinely useful” as described by Musk is uncertain, especially considering past demonstrations have drawn criticism. In May, Tesla faced backlash for a video showing an Optimus robot folding a shirt, which many claimed was manipulated by an off-screen individual.
This is not the first instance of Tesla employing questionable tactics to market their robots; the Optimus project was initially introduced in 2021 with a promotional performance involving a dancer in a robot costume.
Analyst Craig Irwin from Roth MKM expressed skepticism regarding Tesla’s ability to compete with established players like Boston Dynamics, noting that the technology demonstrated appears outdated. Other competitors include Hyundai’s Boston Dynamics, Honda, Apptronik, and Chinese manufacturers such as Dongfeng Motor and Nio, who are exploring humanoid robots from UBTech Robotics. BMW has also partnered with Figure’s humanoid robots in its operations since early this year.
Following Musk’s statements, Tesla’s stock climbed over 3%. Year-to-date, the shares have remained relatively stable after a significant recovery in recent months. Tesla is set to report its second-quarter earnings on Tuesday, during which Musk is expected to address the delays in the robotaxi rollout.