Tesla shares saw an increase on Monday as Elon Musk continued to highlight the potential value of the company’s humanoid robots.
Musk announced on X that Tesla plans to have genuinely useful humanoid robots in limited production for internal use next year and aims for high production for external customers by 2026. At Tesla’s annual meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, projecting that over 1,000 would be operational at Tesla by the end of that year. Currently, two robots are already in use on the factory floor, though Tesla has not disclosed their specific functions.
Musk previously suggested that the robots could boost Tesla’s market capitalization by $20 trillion. However, the robots are not expected to be available for purchase until late 2025, with anticipated prices ranging from $20,000 to $30,000.
The exact usefulness of the robots remains uncertain. Previous demonstrations have received criticism; for instance, a video released in May showed an Optimus folding a shirt, which was purportedly controlled by an off-screen operator. This isn’t the first instance of skepticism surrounding Tesla’s robot project, as its initial reveal in 2021 featured a person dancing in a robot costume.
Analyst Craig Irwin of MKM expressed doubt regarding the timeline, questioning the feasibility of delivering a “sentient humanoid robot” by 2025, especially when comparing Tesla’s efforts to advancements made by competitors like Boston Dynamics.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik, while Chinese companies Dongfeng Motor and Nio are testing humanoid robots developed by UBTech Robotics, and BMW has been utilizing humanoid robots from Figure in its operations since January.
Following Musk’s remarks, Tesla stock increased by more than 3% on Monday. Year-to-date, shares are relatively unchanged after a significant recovery over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide an update on the anticipated robotaxi launch.