Tesla’s stock experienced an uptick on Monday as CEO Elon Musk continues to underscore the potential of the company’s humanoid robots. Musk stated on social media platform X that Tesla aims to have “genuinely useful humanoid robots” in limited production for internal use next year, with hopes for larger-scale production for other businesses by 2026.
At a shareholder meeting in April, Musk predicted that Tesla’s humanoid robot, named Optimus, would enter limited production by 2025, suggesting that over 1,000 units could be operational at Tesla by the end of that year. Currently, two prototypes are operational in Tesla’s factories, though specifics regarding their tasks remain undisclosed.
Musk previously asserted that the introduction of this product could potentially add $20 trillion to Tesla’s market valuation. However, the commercial release of these robots is not expected until late 2025, with price estimates ranging from $20,000 to $30,000.
The exact definition of “genuinely useful” remains uncertain, especially given that previous demonstrations of the robots have drawn skepticism. For instance, in May, Tesla faced criticism for a video showcasing an Optimus robot folding a shirt, which some claimed involved remote control from an off-screen operator.
This is not the first time Tesla has been accused of employing smoke and mirrors in its promotions; the robot’s debut was marked by a human dressed in a robot costume performing a dance, raising questions about the authenticity of its technology.
Analyst Craig Irwin from MKM expressed doubts about Tesla’s pursuit of advanced robotics, comparing it to Boston Dynamics’ established technology. He noted the challenge for Tesla in catching up to competitors like Hyundai’s Boston Dynamics, Honda, Apptronik, and Chinese firms like Nio, which are integrating humanoid robots from UBTech Robotics into their production lines. BMW has also been utilizing humanoid robots from Figure in its operations since early this year.
Following Musk’s comments, Tesla shares rose over 3% on Monday. The stock has remained relatively stable year-to-date, following a strong recovery over the past couple of months. Tesla is scheduled to report its second-quarter earnings on Tuesday, where Musk is anticipated to shed light on the timeline for the company’s long-awaited robotaxi rollout.