Tesla’s stock experienced a rise on Monday as CEO Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk shared on X that Tesla aims to develop “genuinely useful” humanoid robots for internal use next year, with the goal of high production for external companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk stated that the company’s Optimus robot would enter limited production in 2025, projecting that over 1,000 units would be operational by the year’s end. Currently, two robots are in use on the factory floor, though their specific functions have not been disclosed.
Musk suggested that this development could potentially increase Tesla’s market capitalization by $20 trillion. The robots are not expected to be available for sale until late 2025, with an estimated price range of $20,000 to $30,000.
However, the clarity of Musk’s declaration regarding the robots’ usefulness is questionable. Previous demonstrations have faced criticism; for instance, a May video allegedly showing an Optimus robot folding a shirt was claimed to be manipulated by an operator off-screen.
Tesla has a history of ambitious presentations, including the 2021 unveiling of the Optimus robot project that featured a person dressed in a costume dancing.
Analyst Craig Irwin from MKM expressed skepticism about the timeline for a sentient humanoid robot, noting the challenges Tesla faces in competing with established robotics companies like Boston Dynamics. “They’ve shown us is really state of the art for 2014,” he remarked.
In addition to Boston Dynamics, Tesla is up against Honda, Apptronik, and Chinese firms such as Dongfeng Motor and Nio, which are experimenting with humanoid robots from UBTech Robotics. BMW has integrated humanoid robots from Silicon Valley’s Figure into its operations since January.
On the back of Musk’s announcements, Tesla’s stock rose over 3% on Monday. Year-to-date, shares have remained relatively stable after witnessing a significant rebound in the past couple of months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi project.