Tesla’s stock is experiencing an uptick on Monday as CEO Elon Musk continues to highlight the potential of the company’s humanoid robots.
Musk shared on X that Tesla plans to have “genuinely useful” humanoid robots in limited production for internal use next year, with expectations for high production for external companies by 2026. In April, during Tesla’s annual meeting, he mentioned the introduction of the Optimus robot to limited production by 2025, predicting that over 1,000 robots would be operational at Tesla by the year’s end. Currently, two robots are reported to be present on the factory floor, although their specific roles remain unconfirmed.
Musk previously suggested that the robots could potentially increase the company’s market valuation by $20 trillion. Sales for the robots are not anticipated until late 2025, with a projected price range of $20,000 to $30,000.
However, the definition of “genuinely useful” remains vague, as past demonstrations have not always been convincing. In May, Tesla was criticized for a video showing an Optimus robot folding a shirt, which was later revealed to be controlled by a person off-screen. Musk’s previous showcase of the Optimus robot featured a dancer in a costume, raising skepticism about the project.
Analyst Craig Irwin from Roth MKM expressed doubt on Yahoo Finance concerning the expectation of a sentient humanoid robot by 2025, noting that the project’s presentations appear outdated compared to competitors like Boston Dynamics.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik. Chinese automakers, including Dongfeng Motor and Nio, are exploring humanoid robot applications developed by UBTech Robotics in their production lines, while BMW has integrated humanoid robots from Figure in their operations since January.
Following Musk’s remarks, Tesla’s stock climbed over 3% on Monday. Year-to-date, shares have stabilized after a significant rebound over the past two months.
Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates on the delayed rollout of the company’s robotaxi service.