Tesla’s stock experienced an increase on Monday as Elon Musk highlighted the potential of the company’s humanoid robots.
Musk communicated via social media that Tesla plans to have practical humanoid robots in limited production for internal use by next year, with hopes for broader production for other companies by 2026. During a shareholder meeting in April, Musk mentioned that the Optimus project would begin limited production in 2025, projecting that over 1,000 robots would be operational at Tesla by the end of that year. Currently, two robots are in use at the factory, although the company has not disclosed their specific functions.
Musk previously suggested that these robots could significantly boost Tesla’s market value, potentially adding $20 trillion. However, sales of the robots are not anticipated until late 2025, with prices expected to range from $20,000 to $30,000.
What Musk means by referring to the robots as “genuinely useful” remains ambiguous. Previous demonstrations of the robots have faced criticism; for example, in May, Tesla was accused of sharing a video where an Optimus was shown folding a shirt, which was allegedly controlled by a person off-screen.
Tesla has previously faced skepticism regarding its robot development, notably unveiling the Optimus robot project in 2021 with a performance that featured a dancer in a costume. MKM analyst Craig Irwin remarked on Yahoo Finance that matching the capabilities of competitors like Boston Dynamics will be challenging for Tesla, citing their past demonstrations as outdated.
Competitors like Hyundai’s Boston Dynamics, Japan’s Honda, and Apptronik are also in the humanoid robotics space. Additionally, Chinese firms Dongfeng Motor and Nio are incorporating humanoid robots developed by UBTech Robotics into their production lines, while BMW has been using humanoid robots from Figure since January.
On the back of Musk’s remarks, Tesla’s stock rose over 3% on Monday, while shares have remained relatively stable year-to-date after a significant recovery over the last two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide insights on the delayed launch of the robotaxi.