Tesla’s stock saw an increase on Monday as CEO Elon Musk continues to highlight the potential value of the company’s humanoid robots. Musk stated on X that Tesla plans to have truly useful humanoid robots produced in limited quantities for internal use next year and aims for higher production levels for other companies by 2026.
During an April meeting with shareholders, Musk projected that Tesla’s humanoid robot, known as Optimus, would enter limited production by 2025, with over 1,000 robots operational by the end of that year. Currently, two robots are present on the factory floor, though Tesla has not disclosed their specific tasks.
Musk hinted that the robots could significantly boost Tesla’s market capitalization, potentially adding $20 trillion. However, these robots are not expected to be available for sale until late 2025, with anticipated prices ranging from $20,000 to $30,000.
The definition of “genuinely useful” robots remains ambiguous, as previous demonstrations have drawn criticism. In May, Tesla faced allegations of misleading presentations after a video displayed an Optimus robot folding a shirt, which appeared to be controlled by an off-screen operator.
Tesla has a history of using creative approaches to showcase its robots, including the controversial introduction of the Optimus project in 2021, which featured a person dancing in a robot costume.
Analyst Craig Irwin from MKM expressed skepticism, noting the challenge Tesla faces in competing with industry leaders like Boston Dynamics, stating, “What they’ve shown us is really state of the art for 2014.”
In addition to Boston Dynamics, Tesla will also compete against Honda, Apptronik, and Chinese companies such as Dongfeng Motor and Nio, which are testing humanoid robots in production lines developed by UBTech Robotics. BMW has been utilizing humanoid robots from Figure, based in Silicon Valley, in its facilities since late January.
Following Musk’s remarks, Tesla’s stock rose by over 3% on Monday. The shares have remained stable year-to-date after experiencing a significant rebound over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates on the company’s postponed robotaxi unveiling.