Tesla’s stock saw a notable increase on Monday, buoyed by CEO Elon Musk’s ongoing promotion of the company’s humanoid robots. Musk shared optimistic projections on social media platform X, stating that Tesla aims to produce humanoid robots for internal use in small quantities next year, with a goal of ramping up production for external companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk indicated that the company’s humanoid robot, named Optimus, would enter limited production in 2025, projecting over 1,000 units in operation by the year’s end. Although two robots are currently active on the factory floor, Tesla has not disclosed their specific functions.
Musk previously posited that the introduction of these humanoid robots could potentially add $20 trillion to Tesla’s market valuation. However, the robots are not anticipated to hit the market until late 2025, with estimated prices ranging from $20,000 to $30,000.
There is skepticism surrounding Musk’s claims about the robots’ capabilities. Critics note that past demonstrations have not met expectations; for instance, a video showcasing an Optimus robot folding a shirt raised eyebrows when it was revealed that a person was controlling the robot off-screen. Moreover, Tesla’s introduction of the Optimus project in 2021 featured a dancer in a robot suit, which some view as less than credible.
Industry analysts have voiced concerns, pointing out that Tesla faces stiff competition from established players like Boston Dynamics, Honda, and newer entrants like UBTech Robotics. On the competition front, companies like Dongfeng Motor, Nio, and BMW have started integrating humanoid robots into their operations.
Despite the mixed outlook, Tesla’s stock rose by over 3% following Musk’s comments, reflecting renewed investor interest. Shares have stabilized year-to-date after experiencing a significant recovery in the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates regarding the much-anticipated robotaxi initiative.
This focus on humanoid robots highlights Tesla’s endeavors to innovate and expand its portfolio beyond electric vehicles. As the conversation around humanoid technology continues, it may open new avenues for the company in the tech landscape, fostering a blend of excitement and intrigue about the future of robotics in various industries.