Tesla shares saw an uptick on Monday as Elon Musk highlighted the potential benefits of the company’s humanoid robots. Musk announced on X that Tesla aims to have “genuinely useful humanoid robots” in low production for internal use by next year, with plans for higher production for external customers in 2026.
During Tesla’s annual shareholder meeting in April, Musk indicated that the robot named Optimus would enter limited production by 2025, with an expectation of having over 1,000 units operational at Tesla by year’s end. Currently, two robots are working in the factory, although their specific tasks have not been disclosed.
Musk previously speculated that Optimus could add $20 trillion to Tesla’s market value, although the robots are not anticipated to go on sale until late 2025, with projected prices ranging from $20,000 to $30,000.
There are questions about what constitutes “genuinely useful” robots, especially following previous product demonstrations that have raised skepticism. For instance, a video released in May showed Optimus folding a shirt, but it was later suggested that a human was controlling the robot off-screen. Tesla has a history of using dramatized presentations for their product launches, including the controversial debut of the Optimus project in 2021, where a dancer performed in a robot suit.
Analysts are cautious about Tesla’s competition in the robotics space, particularly against established companies like Boston Dynamics, Honda, and Apptronik. Additionally, various Chinese manufacturers including Dongfeng Motor and Nio are testing humanoid robots from UBTech Robotics for use in their factories, while BMW has been utilizing robots from Silicon Valley’s Figure since January.
In light of Musk’s comments, Tesla’s stock rose by over 3% on Monday, although the shares have remained relatively steady year-to-date after a significant recovery over the last two months. Tesla will report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the company’s postponed robotaxi launch.