Tesla’s stock saw an increase on Monday as CEO Elon Musk emphasized the potential value of the company’s humanoid robots. Musk shared on X that Tesla plans to have genuinely useful humanoid robots in low production for internal use in the coming year, with hopes for high production catering to other companies by 2026.
During Tesla’s annual meeting in April, Musk indicated that the Optimus robots would enter limited production by 2025, predicting that over 1,000 units could be operational at Tesla by the year’s end. Currently, two robots are in use at the factory, though Tesla has not disclosed their specific tasks.
Musk has previously projected that the introduction of these robots could potentially add $20 trillion to Tesla’s market valuation. The robots are expected to be available for sale by late 2025, with a price range estimated between $20,000 and $30,000.
However, the term “genuinely useful” raised questions about the robots’ capabilities, especially given past demonstrations that have not been well received. In a notable event in May, Tesla was criticized for allegedly showcasing a video of an Optimus robot folding a shirt, which was later revealed to be controlled by a person off-screen.
Tesla has a history of using flashy presentations to promote its robots, including the introduction of the Optimus project in 2021, which featured a dancer in a robotic suit.
Industry analysts, such as Craig Irwin from Roth MKM, expressed skepticism about Tesla’s ability to compete with established firms like Boston Dynamics, noting that Tesla’s current offerings resemble technology from a decade ago.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik, while Chinese companies Dongfeng Motor and Nio have begun testing humanoid robots from UBTech Robotics in their production lines. BMW has also integrated humanoid robots from Figure into its operations since January.
Following Musk’s comments, Tesla’s stock increased by over 3% on Monday. The company’s shares have remained relatively stable this year, recovering significantly over the past two months.
Tesla is set to release its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates on the delayed robotaxi project.