Tesla shares increased on Monday as Elon Musk emphasized the potential of the company’s humanoid robots. Musk announced on X that Tesla plans to produce genuinely useful humanoid robots for internal use next year, with hopes for wider production for other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk stated that the Optimus robot would enter limited production by 2025, aiming for over 1,000 units to be operational within the company by year’s end. Currently, two robots have been integrated into the factory environment, though Tesla has not disclosed their specific functions.
Musk also theorized that the introduction of these robots could potentially boost Tesla’s market capitalization by $20 trillion. The robots are not anticipated for sale until late 2025, with prices expected to range from $20,000 to $30,000.
However, the practicality of these robots remains uncertain. Previous demonstrations have drawn skepticism; notably, in May, Tesla faced scrutiny for sharing a video of an Optimus robot folding a shirt, which was later revealed to be manipulated by an off-screen person.
This is not the first instance where Tesla has been accused of presenting misleading showcases of their robot. The introduction of the Optimus project in 2021 featured an individual dancing in a robot suit, raising questions about the authenticity of its technology.
Analysts like Craig Irwin from Roth MKM questioned the feasibility of achieving a functional humanoid robot by 2025, noting the challenges Tesla faces against competitors like Boston Dynamics, which has demonstrated more advanced capabilities.
In addition to Boston Dynamics, Tesla will compete with automakers like Hyundai, Honda, and Apptronik, as well as Chinese companies like Dongfeng Motor and Nio, which are working with UBTech Robotics. BMW has been utilizing humanoid robots from Figure in its operations since January.
In response to Musk’s announcements, Tesla stock saw over a 3% rise on Monday. Shares have shown resilience this year, recovering significantly over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the anticipated robotaxi launch.