Tesla’s stock experienced an increase on Monday, following CEO Elon Musk’s ongoing discussions about the company’s humanoid robots and their future potential.
Musk stated on social media that Tesla is on track to produce humanoid robots for internal use in limited quantities by next year, with hopes of ramping up production for other companies by 2026.
During an April shareholders meeting, Musk announced that the Optimus robots would enter limited production in 2025, aiming for over 1,000 units operational at Tesla by the year’s end. Currently, two robots are stationed on the factory floor, although the company has not disclosed their specific functions.
Musk previously suggested that these robots could significantly enhance Tesla’s market value, potentially adding $20 trillion. The robots are not anticipated to be available for sale until late 2025 and are expected to retail for between $20,000 and $30,000.
However, there are questions about the practicality of these robots. Previous demonstrations have raised skepticism, including an incident in May where a video showed an Optimus robot folding a shirt, which critics claimed was controlled by a person off-screen.
This is not the first time concerns have been voiced regarding Tesla’s marketing approach to its robots. The company first unveiled the Optimus project in 2021, presenting it through a performance by a dancer in a robot costume.
Analyst Craig Irwin from Roth MKM expressed doubt about Tesla’s ambitions, noting the challenges the company faces in catching up with competitors like Boston Dynamics. He emphasized that Tesla’s technological demonstrations appear outdated.
In addition to Boston Dynamics, Tesla will face competition from Honda and Apptronik, along with Chinese firms like Dongfeng Motor and Nio, which are experimenting with humanoid robots developed by UBTech Robotics. BMW is also using humanoid robots from Figure in its production facilities.
On Monday, Tesla’s stock rose over 3% following Musk’s statements. Year-to-date, shares have remained largely stable after a significant rebound in the past two months. Investors are looking forward to Tesla’s second-quarter earnings report on Tuesday, where Musk is expected to provide an update on the delayed robotaxi project.