Tesla shares experienced an uptick on Monday as CEO Elon Musk continues to highlight the potential value of the company’s humanoid robots. Musk stated on X that Tesla plans to have genuinely useful humanoid robots in limited production for its internal use next year, and anticipates high production output for other companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk indicated that the Optimus robots would be in limited production by 2025, with a goal of having over 1,000 units operational at Tesla by the end of that year. Currently, two robots have been integrated into the factory, though the specific tasks they perform remain undisclosed.
Musk has suggested that the introduction of these robots could contribute an estimated $20 trillion to Tesla’s market capitalization. However, the robots are not expected to be available for sale until late 2025, with an anticipated price range of $20,000 to $30,000.
It remains uncertain what Musk means by describing the robots as “genuinely useful.” Previous demonstrations have drawn skepticism; for instance, in May, Tesla faced criticism for showcasing a video of an Optimus robot folding a shirt that was actually manipulated by someone off-screen.
Tesla’s track record of showcasing its robots has raised eyebrows, as the company previously introduced the Optimus project with a person dressed in a robot costume performing a dance.
MKM analyst Craig Irwin expressed doubt regarding Tesla’s ambitious timeline for the humanoid robots, comparing their capabilities to that of Boston Dynamics. He noted that what they have demonstrated appears outdated compared to current technologies.
In addition to Boston Dynamics, Tesla will contend with competition from Honda and Apptronik in the humanoid robot sector. Chinese companies Dongfeng Motor and Nio are also experimenting with humanoid robots from UBTech Robotics at their factories, while BMW has incorporated Figure’s humanoid robots into its facilities since January.
Following Musk’s remarks, Tesla’s stock climbed over 3% on Monday. The share price has remained relatively stable throughout the year after experiencing a significant recovery over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to update shareholders on the delayed robotaxi launch.