Tesla’s stock price saw an increase on Monday as Elon Musk highlighted the potential value of the company’s humanoid robots. Musk announced on social media that Tesla plans to have genuinely useful humanoid robots available for internal use next year and aims for high production for other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk stated that the Optimus robots would enter limited production in 2025, projecting that more than 1,000 robots would be operational within the company by the end of that year. Currently, two robots have been integrated into the factory environment, although Tesla has not disclosed their specific functions.
Musk previously claimed that the introduction of these robots could significantly boost Tesla’s market capitalization by $20 trillion. The robots are not expected to hit the market until late 2025, with anticipated pricing between $20,000 and $30,000.
The definition of “genuinely useful” as used by Musk remains somewhat ambiguous, given that prior demonstrations have not been particularly convincing. For instance, Tesla faced criticism in May for releasing a video that appeared to show an Optimus robot folding clothes, which was later revealed to have been manipulated by a person off-camera.
Tesla has previously been accused of presenting an overly optimistic view of its robot capabilities; the company’s initial reveal of the Optimus project in 2021 featured a performer in a robot suit dancing, raising skepticism about the project’s authenticity.
Analyst Craig Irwin from MKM expressed doubts about Tesla’s ability to compete with established robotics firms, noting, “It’s gonna be hard for them to catch up to Boston Dynamics.” He remarked that what Tesla has showcased aligns more with technological standards from nearly a decade ago.
Tesla faces competition from companies such as Hyundai’s Boston Dynamics, Honda, Apptronik, as well as Chinese firms like Dongfeng Motor and Nio, both of which are utilizing humanoid robots from UBTech Robotics in their operations. BMW, too, has integrated humanoid robots from Silicon Valley’s Figure into its facilities since late January.
Following Musk’s remarks, Tesla’s stock rose by over 3% on Monday, and shares remain stable year-to-date after a notable recovery in the past two months. The company is scheduled to report its second-quarter earnings on Tuesday, where an update regarding the delayed robotaxi project is anticipated from Musk.