Tesla’s stock experienced a rise on Monday, driven by Elon Musk’s ongoing discussion about the potential of the company’s humanoid robots.
Musk stated on X that Tesla will have low production levels of “genuinely useful” humanoid robots for internal use next year, with hopes for high production for external companies by 2026. This aligns with Musk’s earlier comments made during the Tesla annual meeting in April, where he announced that the Optimus robots would enter limited production in 2025, predicting over 1,000 would be operational at Tesla by the end of that year. Currently, two robots are working on the factory floor, but Tesla has not disclosed their specific tasks.
Musk proposed that the robots could increase Tesla’s market capitalization by $20 trillion, although they are not expected to be available for sale until late 2025, with an anticipated price range between $20,000 and $30,000.
However, the definition of “genuinely useful” remains unclear, especially given previous product demonstrations that have faced criticism. For instance, in May, Tesla was accused of showing a video where an Optimus appeared to fold a shirt, but it was allegedly being controlled by an off-screen operator. Tesla has a history of embellishing its robot project, having introduced the Optimus in 2021 with a person dressed in a costume.
Analyst Craig Irwin from Roth MKM commented on the challenge Tesla faces in catching up to established competitors like Boston Dynamics, stating that what Tesla has demonstrated so far is outdated compared to current technology.
In addition to Boston Dynamics, Tesla will compete with Honda and Apptronik in the humanoid robot sector. Chinese companies Dongfeng Motor and Nio are testing humanoid robots created by UBTech Robotics, while BMW has been utilizing California-based Figure’s robots in its operations since January.
On the news from Musk, Tesla’s stock climbed over 3% on Monday. Year-to-date, shares remain stable after a significant recovery over the last two months. Tesla is set to announce its second-quarter earnings on Tuesday, during which Musk is expected to provide updates on the delayed robotaxi rollout.