Tesla shares saw an uptick on Monday as Elon Musk continued to highlight the potential of the company’s humanoid robots. In a post on X, Musk stated that Tesla plans to have “genuinely useful humanoid robots” in limited production for internal purposes by next year, with hopes for broader production for other companies by 2026.
During Tesla’s annual meeting in April, Musk mentioned that the Optimus robots would enter limited production in 2025, with expectations of over 1,000 robots operational within the company by the end of that year. Currently, two robots are already in use on the factory floor, though Tesla has not disclosed their specific roles.
Musk suggested that the introduction of these robots could potentially contribute an additional $20 trillion to Tesla’s market valuation. However, the robots are not anticipated to be available for sale until late 2025, and their price is estimated to range between $20,000 and $30,000.
The definition of “genuinely useful” robots remains uncertain, especially considering previous demonstrations have received criticism for lacking substance. In May, Tesla faced accusations of misleading audiences with a video that appeared to show an Optimus robot folding a shirt, which was later revealed to be controlled by someone off-screen.
Skepticism about Tesla’s robotics ambitions is not new. Analyst Craig Irwin expressed doubt about the feasibility of producing a sentient humanoid robot by 2025, referencing the company’s past promotional tactics, such as introducing the Optimus project with a person in a costume. He noted the challenge Tesla would face in competing with established companies like Boston Dynamics, stating that the capabilities shown thus far seem outdated.
Tesla is not the only player in the humanoid robot field. Competitors include Hyundai Motor’s Boston Dynamics, Japan’s Honda, and Apptronik. Chinese companies Dongfeng Motor and Nio are also testing humanoid robots developed by UBTech Robotics in their production lines, while BMW has been utilizing humanoid robots by Figure in its facilities since January.
Following Musk’s comments, Tesla stock increased by over 3% on Monday, with shares holding steady year-to-date after a substantial rebound over the past couple of months. Investors are anticipating Tesla’s second-quarter earnings report on Tuesday, where Musk is expected to provide updates on the delayed introduction of the company’s robotaxi.