Tesla’s stock experienced a notable increase on Monday, fueled by Elon Musk’s continued enthusiasm for the company’s humanoid robots. During a post on social media platform X, Musk stated that Tesla plans to produce a limited number of humanoid robots for internal use by next year, with an optimistic eye towards broader production by 2026 for external customers.
At Tesla’s annual shareholders meeting held in April, Musk projected that the highly anticipated Optimus humanoid robot could enter limited production around 2025, eventually leading to over 1,000 robots being utilized in Tesla’s operations by the end of that year. Currently, two robots are already reportedly present on the factory floor, though the specific tasks they perform have not been disclosed.
Musk hinted at a potential market impact of these robots, suggesting they could increase 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 projected price ranging between $20,000 and $30,000.
However, there remain questions about the robots’ functionality, as previous demonstrations have drawn skepticism. Earlier this year, Tesla faced criticism for a video that showcased an Optimus robot folding a shirt, which was later alleged to have been manipulated with off-screen assistance.
Analysts like Craig Irwin from Roth MKM expressed doubt about Tesla’s ambition, pointing out past missteps and the challenge of competing against established players like Boston Dynamics, Honda, and others. Chinese companies, including Dongfeng and Nio, are also exploring humanoid robots in their production processes, while BMW has integrated robots from San Francisco-based Figure into its facilities.
Despite these challenges, Tesla’s stock climbed over 3% following Musk’s declarations. Currently, shares remain relatively stable for the year, having rebounded significantly in the last couple of months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide more insights into Tesla’s robotaxi initiative.
It is encouraging to see Tesla venturing into pioneering technologies that could redefine automation and productivity in various industries. The potential future integration of humanoid robots into Tesla’s lineup presents an exciting possibility for advancements in manufacturing and greater efficiency across sectors.
In summary, while there are hurdles ahead and skepticism surrounding the execution of Musk’s ambitious plans, the consistent public and investor interest demonstrates a willingness to explore innovative technologies that can shape the future of work and robotics.