Tesla’s stock experienced an uptick on Monday as Elon Musk continues to emphasize the prospective value of the company’s humanoid robots. Musk shared on X that Tesla aims to have genuinely useful humanoid robots in low production for internal use by next year, with a hopeful target for high production for other businesses by 2026.
During Tesla’s annual meeting in April, Musk stated that the Optimus robots would transition into limited production in 2025, predicting that over 1,000 robots could be operational within the company by the end of that year. Currently, two robots are already present on the factory floor, although Tesla has not disclosed their specific functions.
Musk previously suggested that the humanoid robot initiative could theoretically contribute an additional $20 trillion to Tesla’s market value. However, these robots are not expected to be available for sale until late 2025, with a projected price range of $20,000 to $30,000.
There is uncertainty regarding what constitutes “genuinely useful” robots according to Musk, as prior demonstrations have fallen short of expectations. For instance, in May, Tesla faced criticism for releasing a video that suggested an Optimus robot was folding a shirt, which was later revealed to be controlled by a person off-screen.
This is not the first instance of Tesla showcasing its robots in a less-than-convincing manner. The company introduced its Optimus robot project in 2021, featuring a person dancing in a robot costume, which drew skepticism.
MKM analyst Craig Irwin remarked that achieving a fully autonomous humanoid robot by 2025 seems improbable, especially given Tesla’s earlier promotional strategies. He noted that competing with established firms like Boston Dynamics may be challenging for Tesla, considering their current offerings appear to be outdated.
Tesla will also face competition from various companies in the humanoid robotics space, including Hyundai’s Boston Dynamics, Japan’s Honda, and Apptronik. Additionally, Chinese automakers Dongfeng Motor and Nio are exploring humanoid robots developed by UBTech Robotics, while BMW has integrated humanoid robots from Silicon Valley-based Figure into its operations since January.
Following Musk’s comments, Tesla’s stock surged over 3% on Monday. The shares have maintained a steady position year-to-date, rebounding significantly over the past couple of months. Tesla is set to release its second-quarter earnings report on Tuesday, where Musk is anticipated to provide updates on the delayed robotaxi project.