Tesla’s stock saw an increase on Monday as Elon Musk highlighted the potential benefits of the company’s humanoid robots. Musk stated on social media that Tesla aims to have “genuinely useful humanoid robots” in low production for internal use by next year, with hopes for high production for other companies by 2026.
Back in April, during Tesla’s annual meeting, Musk projected that limited production of the Optimus robot would start in 2025, anticipating over 1,000 units to be operational by year-end. Currently, two robots are on-site at Tesla’s factory, although the company has not disclosed their specific functions.
Musk previously suggested that these robots could add a staggering $20 trillion to Tesla’s market valuation. However, they are not expected to be available for sale until late 2025, with a projected price range of $20,000 to $30,000.
The term “genuinely useful” has raised questions, particularly since previous demonstrations have not been convincing. For instance, in May, Tesla was criticized for sharing a video of an Optimus robot folding a shirt, which was apparently controlled by a person not visible in the shot.
This is not the first time Tesla has faced skepticism regarding its robot initiatives. The company initially introduced its Optimus robot project in 2021 with a presentation that featured a dancer in a robot costume.
Analyst Craig Irwin from Roth MKM expressed doubt on Yahoo Finance, noting that the ambition of developing a sentient humanoid robot by 2025 appears unrealistic, especially in light of the cutting-edge advancements made by competitors like Boston Dynamics.
In addition to Boston Dynamics, Tesla competes with Honda, Apptronik, and several Chinese companies, including Dongfeng Motor and Nio, both of which are testing humanoid robots in their production environments. BMW has also started utilizing humanoid robots from Silicon Valley-based Figure in its facilities since January.
Following Musk’s remarks, Tesla’s stock rose over 3%, maintaining a level close to its year-to-date performance after a significant recovery in recent months. Tesla is set to announce its second-quarter earnings on Tuesday, during which Musk is expected to provide updates on the delayed rollout of the company’s robotaxi project.