Tesla shares increased on Monday as Elon Musk highlighted the potential benefits of the company’s humanoid robots. In a post on X, Musk stated, “Tesla will have genuinely useful humanoid robots in low production for internal use next year and, hopefully, high production for other companies by 2026.”
At Tesla’s annual meeting in April, Musk mentioned that the company aims to commence limited production of the Optimus robot in 2025, predicting that over 1,000 units would be operational at Tesla by year-end. Currently, two robots are present on the factory floor, although the specific tasks they perform have not been disclosed.
Musk speculated that these robots could add as much as $20 trillion to Tesla’s market value. The robots are not expected to launch for sale until late 2025 and are projected to retail between $20,000 and $30,000.
However, it remains unclear what Musk means by “genuinely useful.” Previous demonstrations have faced skepticism; for example, in May, Tesla was accused of showcasing a video where an Optimus robot appeared to fold a shirt, although it was reportedly controlled by someone off-screen.
Skepticism about Tesla’s robot project is echoed by analysts. Roth MKM analyst Craig Irwin remarked that it would be challenging for Tesla to keep pace with competitors like Boston Dynamics. “They introduced the Optimus project with a dancer in a suit. What they’ve shown is really state of the art for 2014,” he noted.
Tesla is not only competing with Hyundai’s Boston Dynamics, but also with Honda and Apptronik. Additionally, Chinese manufacturers such as Dongfeng Motor and Nio are testing humanoid robots from UBTech Robotics, while BMW has been using robots from Silicon Valley’s Figure in its operations since January.
Following Musk’s comments, Tesla stock rose over 3% on Monday, with shares remaining stable year-to-date after experiencing a significant recovery in recent months. Tesla is scheduled to release its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates on the delayed robotaxi project.