Tesla’s stock saw an increase on Monday as Elon Musk continues to advocate for the potential of the company’s humanoid robots.
Musk stated on X that Tesla will manufacture useful humanoid robots in limited quantities for internal use next year, with hopes to ramp up production for external companies by 2026. During Tesla’s annual shareholder meeting in April, Musk mentioned that the Optimus robots would enter limited production in 2025, forecasting that more than 1,000 of these robots would be operational by the end of that year. Currently, two robots are already on the factory floor, although the company has not disclosed their specific tasks.
Musk has speculated that the new product could potentially add $20 trillion to Tesla’s market value. However, the robots are not anticipated to be available for purchase until late 2025, with a projected selling price ranging between $20,000 and $30,000.
There remains uncertainty regarding what Musk means by “genuinely useful.” Previous product demonstrations have drawn skepticism; for example, in May, Tesla was accused of showcasing a video where an Optimus robot appeared to fold a shirt, but it was later revealed that a person was operating it off-screen. Additionally, Tesla faced criticism when it first introduced the Optimus robot project in 2021, featuring a person dancing inside a costume.
Craig Irwin, an analyst at Roth MKM, expressed doubts about Tesla’s ability to compete, noting that Boston Dynamics and other competitors, such as Honda and Apptronik, have more advanced offerings. Chinese companies like Dongfeng Motor and Nio are also experimenting with humanoid robots from UBTech Robotics, and BMW has been integrating Figure’s humanoid robots into their operations since early this year.
Following Musk’s remarks, Tesla’s stock rose by over 3% on Monday, making a significant recovery over the past two months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the much-anticipated robotaxi project, which has faced delays.