Tesla’s stock is climbing on Monday as CEO Elon Musk endorses the potential value of the company’s humanoid robots. Musk announced on X that Tesla aims to have “genuinely useful humanoid robots” in limited production for internal use next year and hopes to ramp up production for external clients by 2026.
During Tesla’s annual meeting in April, Musk revealed plans for the Optimus robots to enter limited production by 2025, with a projection of over 1,000 robots operational at Tesla by year’s end. Currently, two robots are on the factory floor, though Tesla has not disclosed their specific tasks.
Musk speculated in April that the introduction of these robots could potentially add $20 trillion to Tesla’s market valuation. The robots are not anticipated to be available for purchase until late 2025, with expected price tags ranging from $20,000 to $30,000.
However, the exact definition of “genuinely useful” robots remains uncertain, especially as earlier demonstrations have drawn criticism. For instance, a video presented by Tesla in May, purportedly showing an Optimus robot folding a shirt, was alleged to have been controlled by an off-screen human. Past promotional efforts included a somewhat controversial debut of the Optumus project in 2021, where a person danced in a robot costume.
Analyst Craig Irwin from Roth MKM expressed skepticism regarding Tesla’s ability to compete with companies like Boston Dynamics, noting the challenges they face in advancing robotic technology. Other competitors include Hyundai’s Boston Dynamics, Japan’s Honda, and Apptronik, with Chinese companies such as Dongfeng Motor and Nio testing humanoid robots from UBTech Robotics, and BMW utilizing robots from Silicon Valley’s Figure.
Following Musk’s remarks, Tesla’s stock surged over 3% on Monday. The shares remain relatively stable this year after a significant recovery over the past two months. Investors are also awaiting Tesla’s second-quarter earnings report on Tuesday, where Musk is predicted to discuss the delayed launch of the robotaxi.