Tesla shares experienced an increase on Monday as Elon Musk continues to highlight the potential of the company’s humanoid robots.
On X, Musk stated, “Tesla will have genuinely useful humanoid robots in low production for internal use next year and, hopefully, high production for other companies by 2026.”
During Tesla’s annual shareholder meeting in April, Musk indicated that the Optimus robots would begin limited production in 2025, predicting that over 1,000 units would be operational by year-end. Currently, two robots are on the factory floor, although Tesla has not disclosed their specific functions.
Musk has previously suggested that the robots could significantly impact the company’s market value, estimating an addition of $20 trillion. However, the robots are not expected to enter the market until late 2025, with anticipated prices ranging from $20,000 to $30,000.
The definition of “genuinely useful” in terms of the robots remains vague. Previous demonstrations have not always met expectations; for instance, Tesla faced criticism for showcasing a video where an Optimus appeared to fold a shirt, allegedly controlled by someone off-screen.
This is not the first time Tesla has faced skepticism regarding its robots. In 2021, the company introduced its Optimus robot project using a dancer in a costume during the presentation.
Craig Irwin, an analyst at Roth MKM, expressed doubt about Tesla’s capabilities, remarking on Yahoo Finance, “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 Hyundai’s Boston Dynamics, Tesla will compete with Honda and Apptronik from Japan. Chinese manufacturers like Dongfeng Motor and Nio have also been piloting humanoid robots from UBTech Robotics in their production lines, while BMW has utilized Figure’s robots in its facilities since January.
Following Musk’s remarks, Tesla’s stock climbed more than 3% on Monday, although it remains relatively unchanged year-to-date after a strong recovery over the past two months.
Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide an update regarding the much-delayed robotaxi launch.