Tesla’s stock increased on Monday as CEO Elon Musk continues to highlight the potential benefits of the company’s humanoid robots.
Musk stated on X that Tesla aims to have genuinely useful humanoid robots in limited production for internal use by next year, with hopes for higher production levels for external companies by 2026.
At Tesla’s annual shareholders meeting in April, Musk had projected that the company’s Optimus robot would enter limited production in 2025, with over 1,000 units expected to be operational by the end of that year. Currently, two robots are already functioning at the factory, although Tesla has not disclosed their specific roles.
Musk previously suggested that the robots could potentially add $20 trillion to the company’s market value. However, these robots are not anticipated to be available for sale until late 2025, with a projected price range between $20,000 and $30,000.
There is some ambiguity regarding Musk’s description of the robots as “genuinely useful.” Past demonstrations have faced skepticism; for instance, in May, Tesla was criticized for sharing a video of an Optimus robot folding a shirt, which was allegedly operated by an off-screen individual.
This is not the first instance where Tesla has been accused of using misleading presentations for its robots. The company famously introduced the Optimus project in 2021 featuring a dancer inside a robot costume.
Analyst Craig Irwin from Roth MKM remarked on Yahoo Finance that developing a sentient humanoid robot by 2025 seems unrealistic, noting Tesla’s past presentation methods and suggesting they may struggle to compete with established companies like Boston Dynamics. He claimed that Tesla’s capabilities appear outdated compared to industry standards from nearly a decade ago.
In addition to Hyundai’s Boston Dynamics, Tesla faces competition from Japan’s Honda and Apptronik. Chinese automakers Dongfeng Motor and Nio are testing humanoid robots designed by UBTech Robotics in their production lines, while BMW has been utilizing humanoid robots from Silicon Valley’s Figure in their facilities since January.
Following Musk’s announcements, Tesla’s stock rose more than 3% on Monday. The shares have remained relatively stable year-to-date after a significant recovery in the past couple of months.
Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the much-anticipated robotaxi launch.