Tesla’s stock experienced an upswing on Monday, driven by Elon Musk’s continued advocacy for the potential value of the company’s humanoid robots. Musk announced on X that Tesla plans to have functional humanoid robots in limited production for internal use next year, with the aim of ramping up production for other companies by 2026.
In remarks made during Tesla’s annual shareholder meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, with a projection that over 1,000 units would be operational at Tesla by year-end. Currently, two robots are already at the factory, although Tesla has not disclosed their specific functions.
Musk speculated that the introduction of these robots could potentially boost the company’s market value by $20 trillion. The robots are not expected to be commercially available until late 2025, with an anticipated price range between $20,000 and $30,000.
However, the definition of “genuinely useful” robots remains vague, as past demonstrations have raised skepticism. In May, Tesla faced criticism for allegedly showcasing a video where an Optimus robot was seen folding a shirt, which was later claimed to have been manipulated by someone off-screen.
This is not the first instance of Tesla utilizing flashy presentations. The company introduced its Optimus robot project in 2021 with a performance featuring a dancer in a robot costume.
Analyst Craig Irwin from Roth MKM expressed doubts about the feasibility of delivering a “sentient humanoid robot” by 2025, pointing out that Tesla’s previous showcases have not kept pace with advances made by competitors like Boston Dynamics.
Tesla will also face competition from Hyundai’s Boston Dynamics, Honda, Apptronik, and Chinese manufacturers such as Dongfeng Motor and Nio, which are using humanoid robots from UBTech Robotics in their production lines. BMW has also integrated humanoid robots from the Silicon Valley company Figure into its facilities since January.
Following Musk’s remarks, Tesla’s stock increased by over 3% on Monday. The shares have stabilized year-to-date 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 an update on the postponed robotaxi launch.