Tesla’s stock experienced an uptick on Monday following Elon Musk’s recent statements regarding the promising prospects of the company’s humanoid robots. Musk shared on X that Tesla plans to have “genuinely useful” humanoid robots in low production for internal use by next year and aims for higher production for external clients by 2026.
During an April address to shareholders, Musk anticipated that the Optimus robots would enter limited production by 2025, with an expectation of having over 1,000 of them operational at Tesla facilities by the end of the year. Currently, two robots are reportedly active on the factory floor, although their specific tasks remain undisclosed.
Musk previously hinted that the capabilities of these robots could contribute an impressive $20 trillion to Tesla’s market value. However, these robots are not expected to hit the market until late 2025, with price estimates ranging from $20,000 to $30,000 each.
Despite Musk’s optimistic projections, skepticism lingers regarding the practicality of these robotics. Past demonstrations have raised questions about their efficacy; a recent incident involved Tesla being accused of showcasing an Optimus robot folding laundry under the manipulation of an individual off-screen. Criticism also arose from the initial debut of the Optimus project in 2021, which included a performer in a robot costume, casting doubt on the company’s seriousness in delivering advanced robotics.
Analyst Craig Irwin voiced concerns about Tesla’s ability to compete with established players like Boston Dynamics, as well as other competitors such as Honda and Apptronik. Additionally, several Chinese companies, including Dongfeng Motor and Nio, are exploring humanoid robots from UBTech Robotics, and BMW has already integrated robots from Figure into its operations.
In light of Musk’s remarks, Tesla’s stock rose more than 3% on Monday. Although shares have remained relatively stable throughout the year, they recently made a notable recovery over the past couple of months. Investors are now keenly awaiting Tesla’s second-quarter earnings report on Tuesday, where Musk is expected to provide updates on the anticipated robotaxi rollout.
The ongoing developments surrounding Tesla’s humanoid robots highlight the company’s innovative spirit and determination to revolutionize various industries. As they navigate competitive landscapes and technological challenges, there remains a sense of hope that progress will lead to groundbreaking advancements. The upcoming earnings report could serve as a pivotal moment, potentially boosting investor confidence and setting the stage for Tesla’s future in robotics.