Tesla’s stock experienced an uptick on Monday as Elon Musk continues to highlight the value potential of the company’s humanoid robots.
Musk stated on social media platform X that Tesla expects to have “genuinely useful humanoid robots” in limited production for internal use next year, with hopes for widespread production available to other companies by 2026.
During Tesla’s annual meeting in April, Musk mentioned that the Optimus robots would begin limited production in 2025 and predicted that over 1,000 units would be operational at Tesla by the end of that year. Currently, two of these robots are on the factory floor, although Tesla has not disclosed their specific roles.
Musk previously suggested that such robots could potentially contribute an additional $20 trillion to Tesla’s market capitalization. However, these robots are not anticipated to hit the market until late 2025, with a projected retail price ranging from $20,000 to $30,000.
The clarification of what Musk considers “genuinely useful” remains ambiguous, especially given past product demonstrations that have drawn skepticism. For instance, in May, Tesla faced criticism for a video showing an Optimus robot appearing to fold a shirt, which was later revealed to be manipulated by an off-screen operator.
Tesla’s approach to showcasing these robots has been questioned, particularly since the initial introduction of the Optimus project in 2021, which featured someone in a dancing costume.
Craig Irwin, an analyst at Roth MKM, commented on Yahoo Finance, stating that the ambition of having a sentient humanoid robot by 2025 seems implausible, especially considering the setbacks demonstrated by their earlier presentations. He noted that Tesla would face stiff competition from established players like Boston Dynamics, as well as Honda and Apptronik, while Chinese companies like Dongfeng Motor and Nio are also exploring humanoid robotics from UBTech Robotics.
On the news of Musk’s comments, Tesla’s shares rose over 3% on Monday. The company’s stock remains relatively stable year-to-date after a significant rebound in the last two months. Tesla is set to release its second-quarter earnings on Tuesday, during which Musk is expected to provide an update on the long-awaited robotaxi launch.