Tesla’s stock saw an increase on Monday as Elon Musk underscored the potential of the company’s humanoid robots. In a post on social media, Musk stated, “Tesla will have genuinely useful humanoid robots in limited production for internal use next year, and we hope to begin high production for external companies by 2026.”
Previously, during Tesla’s annual shareholder meeting in April, Musk indicated that the Optimus robot would enter limited production in 2025, with over 1,000 units operational by the end of that year. Currently, two robots are already situated on the factory floor, although Tesla has not disclosed their specific tasks.
Musk also presented a scenario where the humanoid robots could increase the company’s market capitalization by an astounding $20 trillion. These robots are not anticipated to be available for sale until late 2025, with price estimates ranging from $20,000 to $30,000.
The exact definition of “genuinely useful” in relation to the robots remains uncertain. Previous demonstrations have attracted skepticism; for instance, Tesla was accused of sharing a video in May that depicted an Optimus robot folding a shirt, which was allegedly done by a person off-camera.
Tesla has faced criticism for its approach to showcasing the robots. The company first introduced the Optimus project in 2021 with a person in a costume performing a dance.
Analyst Craig Irwin from MKM noted on Yahoo Finance, “A sentient humanoid robot by 2025? I mean come on, they tried to launch this product with a dancer inside of a robot suit. It’s gonna be hard for them to catch up to Boston Dynamics. What they’ve shown us is really state of the art for 2014.”
In addition to competing with Hyundai Motor’s Boston Dynamics, Tesla faces rivals such as Honda and Apptronik from Japan. Chinese automakers, including Dongfeng Motor and Nio, are also exploring humanoid robots developed by UBTech Robotics for their production lines, while BMW has incorporated humanoid robots from Silicon Valley’s Figure into its facilities since late January.
Musk’s comments on the humanoid robots propelled Tesla’s stock up by over 3% on Monday. The shares have remained relatively stable year-to-date but have experienced a significant rebound in the past two months.
Tesla is set to announce its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed introduction of the robotaxi.