Tesla’s stock saw an uptick on Monday as CEO Elon Musk continued to highlight the potential of the company’s humanoid robots. Musk announced via X that Tesla aims to produce genuinely useful humanoid robots for internal purposes next year, with plans for high production available to other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk mentioned that the Optimus robots would enter limited production in 2025, estimating over 1,000 robots could be operational at Tesla by year’s end. Currently, two robots are already on the factory floor, though the specific tasks they perform have not been disclosed.
Musk previously suggested that these robots could significantly enhance Tesla’s market value, potentially adding $20 trillion. Although the robots are not expected to be available for sale until late 2025, price estimates range between $20,000 and $30,000.
However, the term “genuinely useful” remains vague, especially considering past demonstrations of the robots have been called into question. In May, a video showing an Optimus robot folding a shirt faced scrutiny, as it was believed to be operated by someone off-screen.
Skepticism remains about Tesla’s ability to compete in the humanoid robot sector. Notable analysts, such as Craig Irwin from Roth MKM, have pointed out the challenges Tesla faces against established players like Boston Dynamics, particularly after the company’s initial reveal of the Optimus robot, which featured a dancer in a costume.
Alongside Boston Dynamics, Tesla competes with companies like Honda and Apptronik. Chinese firms Dongfeng Motor and Nio are currently testing humanoid robots developed by UBTech Robotics in their factories, while BMW has been utilizing humanoid robots from Silicon Valley-based Figure since January.
On the strength of Musk’s comments, Tesla’s stock increased by over 3% on Monday. Year-to-date, shares remain stable after a significant recovery in the last two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the timelines for the company’s delayed robotaxi rollout.