Tesla’s stock saw a notable increase on Monday, fueled by Elon Musk’s continued emphasis on the prospective value of the company’s humanoid robots. Musk stated on social media that Tesla aims to produce “genuinely useful humanoid robots” for internal purposes in 2024, with hopes for higher production available to other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk indicated that the Optimus robot would enter limited production in 2025, with over 1,000 units operational by year-end. Although two robots are currently on the factory floor, Tesla has not disclosed their specific functions.
Musk suggested a bold vision for the robots, proposing they could potentially contribute an additional $20 trillion to Tesla’s market value. Although these robots are not expected to be available for purchase until late 2025, their estimated prices will range between $20,000 and $30,000.
However, the specifics of Musk’s claims regarding the “genuinely useful” nature of the robots remain somewhat ambiguous. Previous demonstrations have faced criticism, such as the recent incident in May where a video of an Optimus robot folding a shirt was revealed to have been controlled by an off-screen operator.
Critics like MKM analyst Craig Irwin have pointed out challenges for Tesla in this field, especially in competition with established entities like Boston Dynamics. They highlight Tesla’s past marketing tactics, which have included attention-grabbing presentations rather than substantial product demonstrations.
In contrast, Tesla’s stock rose over 3% following Musk’s remarks, maintaining stability year-to-date after a notable recovery over the previous two months. Investors are anxiously awaiting Tesla’s upcoming second-quarter earnings report, where Musk is expected to provide updates about the company’s plans, including the delayed robotaxi launch.
This focus on innovation and robotics reflects a growing trend in the tech industry, where companies are rapidly exploring AI solutions to streamline operations. As Tesla strives to carve its niche in the humanoid robot market, it remains to be seen how they will meet consumer expectations and compete against well-established rivals.
In summary, while challenges lie ahead, Tesla’s commitment to developing advanced robotics could signify a promising future for the company and the evolution of technology in manufacturing. The excitement surrounding these innovations may bring new opportunities not just for Tesla but for the broader tech industry as well.