Tesla’s stock experienced an increase on Monday as CEO Elon Musk continues to highlight the potential value of the company’s humanoid robots.
Musk stated on X that Tesla plans to produce “genuinely useful” humanoid robots in limited numbers for internal use next year, with an aim for higher production for external companies by 2026. This aligns with previous statements made during Tesla’s annual shareholder meeting in April, where Musk announced that the Optimus robots would enter limited production in 2025, with a goal of having over 1,000 robots operational by the end of that year. Currently, two robots are already at the factory, although Tesla has not disclosed their specific functions.
Musk previously speculated that these robots could potentially add $20 trillion to Tesla’s market capitalization, although they are not expected to hit the market until late 2025, with an anticipated price range of $20,000 to $30,000.
There is some skepticism regarding Musk’s claims of the robots being “genuinely useful,” especially given that earlier product demonstrations have received criticism. For instance, a May video showcasing an Optimus robot folding a shirt was alleged to have been manipulated by an off-screen operator.
Critics worry that Tesla may struggle to keep pace with established competitors like Boston Dynamics, Honda, and Apptronik. Moreover, Chinese companies such as Dongfeng Motor and Nio are exploring humanoid robots from UBTech Robotics, while BMW has integrated robots from Silicon Valley-based Figure into its operations since January.
On Monday, Tesla’s stock rose over 3% following Musk’s announcements, showing stability for the year after a significant rebound over the past two months. Tesla is expected to report its second-quarter earnings on Tuesday, where Musk is likely to provide an update on the much-anticipated robotaxi launch.