Tesla’s stock experienced an uptick on Monday as CEO Elon Musk continued to emphasize the potential value of the company’s humanoid robots. Musk stated on X that Tesla aims to have usable humanoid robots in low production for internal purposes next year, with hopes for increased production for external clients by 2026.
During Tesla’s annual meeting in April, Musk indicated that the Optimus robot would enter limited production in 2025, forecasting that over 1,000 robots would be operational at the company by year-end. Currently, two robots are in use on the factory floor, though their specific tasks have not been disclosed.
Musk has suggested that the introduction of these robots could add $20 trillion to Tesla’s market value. However, sales of the robots are not expected until late 2025, and their anticipated price range is between $20,000 and $30,000.
There remains some ambiguity about what Musk means by “genuinely useful” robots, as previous demonstrations have faced criticism. For instance, a video released in May showing an Optimus robot folding a shirt was reported to have involved off-screen human control.
Tesla has faced scrutiny over its promotional tactics in the past. The company introduced its Optimus robot project in 2021 with a stunt featuring a dancer in a robot costume. Analyst Craig Irwin from MKM expressed skepticism on Yahoo Finance, noting that achieving a sentient humanoid robot by 2025 seems unrealistic. He pointed out the challenges Tesla faces in competing with established companies like Boston Dynamics.
In addition to Boston Dynamics, Tesla also competes with Honda and Apptronik in the humanoid robot sector. Chinese firms Dongfeng Motor and Nio are currently testing humanoid robots developed by UBTech Robotics in their production lines, while BMW has been utilizing Silicon Valley’s Figure’s robots since January.
As a result of Musk’s statements, Tesla’s stock rose over 3% on Monday. Year-to-date, shares are relatively stable 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 robotaxi rollout.