Tesla’s stock saw an increase on Monday as CEO Elon Musk continued to highlight the potential of the company’s humanoid robots. Musk announced on X that “Tesla will have genuinely useful humanoid robots in low production for internal use next year and, hopefully, high production for other companies by 2026.”
During Tesla’s annual shareholder meeting in April, Musk had indicated that the Optimus robot would enter limited production in 2025, with a projection of over 1,000 robots operational at Tesla by year’s end. Currently, two robots are being utilized at the factory, though Tesla has not disclosed their specific functions.
Musk previously suggested that the introduction of these robots could boost the company’s market capitalization by as much as $20 trillion. The robots are not expected to be available for sale until late 2025, with anticipated prices ranging from $20,000 to $30,000.
However, there is ambiguity surrounding Musk’s description of the robots as “genuinely useful.” Previous demonstrations have raised skepticism; in May, Tesla faced criticism for a video that allegedly showed an Optimus robot folding a shirt, which was actually manipulated by a person off-camera.
This is not the first time Tesla has faced scrutiny over its robot demonstrations. The company launched its Optimus project in 2021, accompanied by a performance featuring a person in a robot costume.
Analyst Craig Irwin from Roth MKM commented on Yahoo Finance, expressing doubt about the feasibility of a “sentient humanoid robot by 2025,” likening Tesla’s past presentations to outdated technology compared to competitors like Boston Dynamics.
In addition to Boston Dynamics, Tesla is set to compete with Honda and Apptronik in the humanoid robot space. Chinese companies, including Dongfeng Motor and Nio, are testing robots developed by UBTech Robotics for production lines, while BMW has been using humanoid robots from Silicon Valley’s Figure since January.
Musk’s comments contributed to a more than 3% rise in Tesla’s stock on Monday. Shares remain nearly unchanged year-to-date after a significant recovery over the last couple of months. Tesla is scheduled to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates on the delayed robotaxi project.