Tesla’s stock experienced an increase on Monday, driven by Elon Musk’s ongoing promotion of the potential value of the company’s humanoid robots. Musk shared on X that Tesla plans to produce useful humanoid robots for internal use next year and aims for high production for other companies by 2026.
During Tesla’s annual meeting in April, Musk indicated that the Optimus robots would enter limited production by 2025, with a projection of over 1,000 robots operational at Tesla by year’s end. Currently, two robots are functioning at the factory, though Tesla has not disclosed their specific roles.
Musk proposed that the introduction of these robots could potentially add $20 trillion to the company’s market cap. The robots are anticipated to be available for sale by the end of 2025, with a price range between $20,000 and $30,000.
There is ambiguity surrounding Musk’s description of the robots as “genuinely useful,” as previous demonstrations have received criticism. Notably, in May, Tesla faced backlash for a video that appeared to show an Optimus robot folding a shirt; it was later revealed that a person off-screen was controlling the action.
Tesla has a history of creating dramatic reveals for its robots, including the introduction of the Optimus project in 2021 with a human in a costume performing a dance. Analyst Craig Irwin from Roth MKM commented on Yahoo Finance that the timeline for a sentient humanoid robot by 2025 seems ambitious, particularly when compared to the advancements made by competitors like Boston Dynamics.
Tesla will face competition not only from Hyundai’s Boston Dynamics but also from Japan’s Honda and Apptronik. Additionally, Chinese automakers, including Dongfeng Motor and Nio, are currently testing humanoid robots from UBTech Robotics in their production lines, while BMW has been using humanoid robots from Silicon Valley-based Figure since January.
Following Musk’s comments, Tesla’s stock climbed over 3% on Monday, maintaining a flat trajectory year-to-date after experiencing a substantial recovery in the past two months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to address the delays regarding the robotaxi unveiling.