Tesla’s stock surged on Monday as Elon Musk highlighted the prospective value of the company’s humanoid robots. Musk announced on X that Tesla plans to produce “genuinely useful” humanoid robots for internal use in limited quantities next year, with hopes for higher production for other companies by 2026.
Earlier this year, during Tesla’s annual meeting, Musk stated that the Optimus robot would enter limited production by 2025, aiming for over 1,000 robots operating within Tesla by year’s end. Currently, two robots are on the factory floor, although their specific functions have not been disclosed.
Musk suggested that these robots could potentially add $20 trillion to Tesla’s market value. The robots are not expected to be available for sale until late 2025, with projected prices ranging from $20,000 to $30,000.
However, what Musk means by “genuinely useful” remains ambiguous, as previous demonstrations have raised skepticism. In May, Tesla faced criticism for showcasing a video where an Optimus appeared to fold a shirt, which was allegedly manipulated by a person off-camera.
Tesla’s past presentations have often been seen as lacking substance. The company first introduced the Optimus robot concept in 2021 with a performance featuring a dancer in a robot suit, leading some analysts to question the feasibility of achieving a functional humanoid robot by 2025. Analyst Craig Irwin from MKM expressed concerns, noting that Tesla’s demonstrations lag behind competitors like Boston Dynamics.
In addition to Hyundai’s Boston Dynamics, Tesla faces competition from Honda, Apptronik, and Chinese companies such as Dongfeng Motor and Nio, which are utilizing humanoid robots in their production lines. BMW has also incorporated humanoid robots from Silicon Valley-based Figure into its operations since January.
Following Musk’s remarks, Tesla’s stock increased by over 3% on Monday. Year-to-date, shares have remained relatively stable after a significant recovery in the last two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide an update on the delayed robotaxi launch.