Tesla’s stock saw a rise on Monday as Elon Musk continues to emphasize the potential value of the company’s humanoid robots.
Musk stated on social media that Tesla plans to have functional humanoid robots in low production for internal use next year and anticipates high production for other companies by 2026. During Tesla’s annual meeting in April, he mentioned that Optimus, the humanoid robot, would enter limited production by 2025, with expectations that over 1,000 robots would be operational at Tesla by the end of that year. Although two robots are currently on the factory floor, their specific tasks remain undisclosed.
Musk has projected that the introduction of these robots could significantly boost Tesla’s market capitalization by as much as $20 trillion. The robots are not expected to be available for sale until late 2025, with a price range anticipated between $20,000 and $30,000.
There remains some ambiguity regarding Musk’s characterization of the robots as “genuinely useful.” Previous demonstrations have faced criticism; notably, in May, Tesla was accused of misleadingly showcasing an Optimus robot folding a shirt while a person off-screen was controlling the motion.
Tesla’s approach to revealing its robot technology has previously drawn skepticism, most famously during the introduction of the Optimus project in 2021, which featured a person dressed in a robot costume.
Analyst Craig Irwin from MKM expressed doubts about the timeline, questioning the plausibility of having a sentient humanoid robot by 2025 and stating that Tesla may struggle to keep pace with competitors like Boston Dynamics. He described Tesla’s current capabilities as outdated compared to the latest in robotics.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik. Chinese companies like Dongfeng Motor and Nio are also exploring humanoid robots developed by UBTech Robotics for their production lines, while BMW has been utilizing humanoid robots from Figure in their facilities since January.
Following Musk’s statements, Tesla’s stock rose over 3% on Monday. The shares have remained relatively steady year-to-date, following a significant recovery in recent months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to update stakeholders on the delay of the company’s robotaxi unveiling.