Tesla’s stock experienced a rise on Monday as CEO Elon Musk highlighted the potential value of the company’s humanoid robots. He stated via X that Tesla plans to produce robots for internal use next year, with hopes for large-scale production for external companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk mentioned that the humanoid robot named Optimus would enter limited production by 2025, aiming to have over 1,000 units operational by the year’s end. Currently, two robots are on site at Tesla’s factory, although their specific tasks have not been disclosed.
Musk previously speculated that the introduction of these robots could potentially increase Tesla’s market capitalization by $20 trillion. The robots are not expected to hit the market until late 2025, with anticipated prices ranging from $20,000 to $30,000.
The definition of “genuinely useful” robots remains unclear, as past demonstrations have been criticized. For instance, a video released in May showed an Optimus robot folding a shirt, but it was alleged that a person was controlling the robot from off-screen.
This is not the first time Tesla has faced scrutiny regarding its robotic displays. The company’s initial reveal of the Optimus robot in 2021 involved a performer in a robot costume, casting doubt on the seriousness of its intentions.
Analysts express skepticism about Tesla’s ability to match competitors in the robotics space, particularly Boston Dynamics, with some pointing out that the technology showcased so far appears outdated compared to the current industry standards.
In addition to Boston Dynamics, Tesla will contend with players like Honda and Apptronik in Japan, while Chinese companies Dongfeng Motor and Nio are experimenting with humanoid robots from UBTech Robotics. Meanwhile, BMW has been utilizing humanoid robots developed by the Silicon Valley-based company Figure since late January.
Following Musk’s remarks, Tesla stock climbed over 3% on Monday. Despite this uptick, shares have remained relatively stable throughout the year after a significant recovery over the past two months. Tesla is scheduled to announce its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the long-delayed robotaxi project.