Tesla’s stock saw an increase on Monday as CEO Elon Musk continued to highlight the potential value of the company’s humanoid robots. Musk shared on social media that Tesla aims to have functional humanoid robots ready for internal use next year, with plans for higher production for other companies by 2026.
During a meeting with shareholders in April, Musk noted that the Optimus robots would enter limited production in 2025, with expectations of having over 1,000 units operational by year-end. Currently, two robots are in use at Tesla’s factory, though the company has not provided details on their tasks.
Musk previously speculated that the robots could significantly boost Tesla’s market valuation by $20 trillion. While these robots are not set to be commercially available until late 2025, the anticipated price range is between $20,000 and $30,000.
There is some skepticism regarding Musk’s claims about the robots being “genuinely useful,” particularly since previous demonstrations have garnered criticism. In May, Tesla faced backlash for a video suggesting an Optimus robot was folding a shirt, which turned out to have been manipulated by an off-screen operator.
Critics have pointed out that Tesla’s past attempts to showcase the robots have not always been straightforward, recalling the initial reveal of the Optimus project in 2021 featuring a person dancing in a robot costume.
MKM analyst Craig Irwin commented on the challenges Tesla faces, stating that the company would struggle to catch up to competitors like Boston Dynamics, highlighting that Tesla’s technology seems outdated compared to the current advancements in robotics.
In addition to Boston Dynamics, Tesla will also compete with Honda and Apptronik in this field. Meanwhile, Chinese companies like Dongfeng Motor and Nio are exploring humanoid robots from UBTech Robotics, and BMW has been utilizing humanoid robots from Silicon Valley-based Figure since the start of the year.
Following Musk’s remarks, Tesla’s stock price rose over 3% on Monday. The shares have remained relatively stable this year after experiencing a significant rebound in recent months. Tesla is due to announce its second-quarter earnings on Tuesday, where Musk is likely to address the anticipated delay in the robotaxi launch.