Tesla’s stock experienced an increase on Monday as CEO Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk stated on social media that Tesla aims to have genuinely functional humanoid robots in limited production for internal use by next year and plans for broader production by 2026.
During Tesla’s annual shareholder meeting in April, Musk mentioned that the company’s robot, named Optimus, could enter limited production in 2025, with over 1,000 units predicted to be operational by the year-end. Currently, two robots are already on the factory floor, though Tesla has not disclosed their specific tasks.
Musk previously suggested that the introduction of these robots could significantly boost Tesla’s market value, projecting it could add up to $20 trillion. The robots are expected to launch for sale by late 2025, with a projected price range of $20,000 to $30,000.
However, the term “genuinely useful” regarding the functionality of the robots remains vague. Tesla’s past product demonstrations have faced criticism; for instance, a video showcasing an Optimus robot folding a shirt was alleged to have been manipulated, with a person operating off-screen.
Tesla has a history of using creative presentations, having introduced the Optimus project in 2021 with a person in a costume dancing. Analysts express skepticism about Tesla’s ability to compete in the humanoid robotics space against established companies like Boston Dynamics, Honda, and Apptronik, as well as automakers such as Dongfeng Motor and Nio, which are testing robots developed by UBTech Robotics.
On the back of Musk’s statements, Tesla’s stock climbed over 3% on Monday, but shares have remained relatively flat throughout the year, following a significant recovery in the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates regarding the delayed rollout of the company’s robotaxi initiative.