Tesla’s stock experienced a notable increase on Monday, bolstered by Elon Musk’s continued advocacy for the company’s humanoid robots. Musk stated on social media that Tesla aims to have “genuinely useful” humanoid robots in limited production for internal use by next year, with hopes for broader distribution beginning in 2026.
In April, during the annual meeting with shareholders, Musk previously indicated that the company’s Optimus robots would enter limited production by 2025, predicting that over 1,000 of them could be operational at Tesla by the year’s end. Currently, two robots are already in use at the factory, although the specifics of their roles have not been disclosed.
Musk has also suggested that these robots could add an incredible $20 trillion to the company’s market valuation in the long run. However, these robots are not expected to be available for sale until late 2025, with projected prices ranging from $20,000 to $30,000.
Skepticism surrounds the capabilities of the humanoid robots, with questions about what Musk means by “genuinely useful.” Critics have pointed out the lackluster nature of previous demonstrations—such as a recent video where a robot appeared to fold a shirt, which was later claimed to have been controlled by a person off-screen.
The optimism of Tesla’s robot project has faced scrutiny, particularly after its debut in 2021 featured a person performing in a costume rather than showcasing actual robot technology. Analysts, like Craig Irwin from MKM, emphasized the challenges Tesla may face in catching up with established competitors such as Boston Dynamics and Honda, who are already further along in the robotics landscape.
Despite the mixed reception of its robotic ambitions, Tesla’s stock rose over 3% on Monday in response to Musk’s optimistic projections. Year-to-date, the shares have remained mostly stable, following a substantial recovery in recent months. Tesla is also set to report its second-quarter earnings on Tuesday, where it’s anticipated that Musk will provide updates on the delayed introduction of the company’s robotaxi service.
In summary, while there is a blend of excitement and skepticism surrounding Tesla’s humanoid robot initiative, the stock’s rise indicates that investors are still hopeful about the company’s potential. Musk’s vision, even if met with challenges, underscores the innovative spirit of Tesla and the ongoing push towards advanced robotics in manufacturing. This could signal a transformative time in the industry if Tesla successfully navigates the hurdles ahead.