Tesla’s stock experienced an increase on Monday as Elon Musk continues to emphasize the potential benefits of the company’s humanoid robots. Musk indicated on X that Tesla plans to have functioning humanoid robots for internal purposes in low production by next year and aims for broader production by 2026 for external companies.
Earlier this year, during Tesla’s annual shareholder meeting, Musk stated that the Optimus robot would enter limited production in 2025, predicting over 1,000 robots would be operational at Tesla by the end of that year. Currently, two robots are in use at the factory, but their specific tasks have not been disclosed.
Musk previously suggested that the introduction of these robots could potentially increase the company’s market capitalization by $20 trillion. The robots are anticipated to be available for purchase by late 2025, with prices projected to range between $20,000 and $30,000.
However, it remains uncertain what Musk means by calling the robots “genuinely useful.” Previous demonstrations have been met with skepticism; for instance, in May, Tesla was criticized for showcasing a video of an Optimus robot folding a shirt, which appeared to be manipulated by an off-screen operator.
Tesla has faced scrutiny regarding its marketing approach for these robots, notably unveiling the Optimus project in 2021 with a dancer in a robot costume. Analyst Craig Irwin from MKM expressed doubt about Tesla’s ability to compete with established companies like Boston Dynamics, suggesting that the technology demonstrated so far is outdated.
In addition to Boston Dynamics, Tesla will be competing with other companies such as Honda and Apptronik in the humanoid robotics space. Chinese firms Dongfeng Motor and Nio are exploring humanoid robots from UBTech Robotics in their production lines, while BMW has incorporated humanoid robots from the Silicon Valley company Figure since early 2023.
Following Musk’s remarks, Tesla’s stock price rose more than 3% on Monday. The shares have remained relatively stable year-to-date, recovering significantly over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is likely to provide updates on the company’s postponed robotaxi launch.