Tesla’s stock price gained over 3% on Monday as CEO Elon Musk highlighted the anticipated value of the company’s humanoid robots. Musk stated on social media that Tesla aims to have functional humanoid robots for internal use in low production by next year, with hopes for higher production for external companies by 2026.
During a shareholder meeting in April, Musk indicated that the robots, named Optimus, would enter limited production in 2025, predicting that over 1,000 units would be operational at Tesla by the year’s end. Currently, two robots have been introduced to the production floor, although specifics regarding their tasks remain unclear.
Musk previously suggested that the addition of these robots could significantly enhance Tesla’s market valuation by as much as $20 trillion. While the robots are not expected to hit the market until late 2025, their price is projected to fall between $20,000 and $30,000.
There are questions about the practical applications of the robots, especially in light of prior product demonstrations that have drawn skepticism. For instance, in May, Tesla faced criticism for showing a video where an Optimus appeared to fold laundry, which was later revealed to have been manipulated by an off-screen operator.
Analysts express doubt about Tesla’s ability to compete with established players in the humanoid robotics field, such as Boston Dynamics and Honda. MKM analyst Craig Irwin pointed out the challenges Tesla may face in catching up, noting that their demonstrations appear outdated compared to the current state of robotic technology.
In addition to Tesla, other companies such as Hyundai’s Boston Dynamics, Japan’s Honda, and Apptronik are developing humanoid robots. Chinese automakers like Dongfeng and Nio are also testing robots developed by UBTech Robotics, while BMW has been utilizing humanoid robots from Figure since January.
As Tesla prepares to report its second-quarter earnings on Tuesday, Musk is expected to provide further details regarding the delayed release of the company’s robotaxi.