Tesla’s stock experienced a rise on Monday following comments from Elon Musk regarding the potential of the company’s humanoid robots. Musk stated on X that Tesla aims to have genuinely useful humanoid robots available in limited production for internal use by next year, with hopes for wider production for other businesses by 2026.
During Tesla’s annual meeting in April, Musk indicated that the humanoid robot, named Optimus, would enter limited production in 2025, forecasting the deployment of over 1,000 robots in Tesla’s operations by the end of that year. While two robots have already been introduced on the factory floor, their specific functions remain undisclosed.
Musk had previously suggested that Optimus could contribute an additional $20 trillion to Tesla’s market value. The robots are not expected for sale until late 2025, and their price is projected to range between $20,000 and $30,000.
However, the practicality of the robots has been questioned, as past demonstrations have drawn skepticism. In May, Tesla was criticized for a video showing an Optimus robot folding a shirt, which was allegedly controlled by an individual off-screen. Previously, Tesla unveiled its robot project in 2021 featuring a dancer in a robot costume, raising doubts about the seriousness of the endeavor.
Market analysts, including Craig Irwin from Roth MKM, expressed skepticism about Tesla’s ambitions, pointing out that competing companies like Boston Dynamics have more advanced technology. Other competitors in the humanoid robotics field include Honda and Apptronik, with Chinese companies like Dongfeng Motor and Nio experimenting with humanoid robots from UBTech Robotics and BMW utilizing Figure’s robots in their operational facilities.
Following Musk’s remarks, Tesla’s stock rose over 3% on Monday, although it has remained relatively stable year-to-date after a significant rebound in the last couple of months. The company is set to announce its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the long-awaited robotaxi project.