Tesla’s stock experienced an increase on Monday as CEO Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk stated on social media that Tesla aims to produce “genuinely useful” humanoid robots for internal use by next year, with the goal of higher production levels for external companies by 2026.
In April, during Tesla’s annual shareholder meeting, Musk announced that the Optimus robot would enter limited production in 2025, projecting that over 1,000 units would be operational by the year’s end. Currently, two robots are present on the factory floor, though their specific roles have not been disclosed.
Musk indicated that the introduction of these robots could potentially add $20 trillion to Tesla’s market valuation, even though actual sales for the humanoid robots are not anticipated until late 2025, with prices expected to range between $20,000 and $30,000.
The exact practicality of these robots remains uncertain, as past demonstrations have raised questions about their authenticity. In one instance, Tesla was criticized for a video where an Optimus robot appeared to fold a shirt, which was later suggested to have been controlled by an off-screen individual.
Musk’s previous presentations have also sparked skepticism. In 2021, Tesla unveiled its Optimus project featuring a person in a dancing robot costume. Analyst Craig Irwin from MKM expressed doubts about Tesla’s ability to compete with established firms like Boston Dynamics, citing that their current offerings seem outdated.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik, while Chinese companies such as Dongfeng Motor and Nio are trialing humanoid robots from UBTech Robotics in their factories. BMW has also partnered with Figure’s humanoid robots since January.
Following Musk’s comments, Tesla’s stock rose over 3% on Monday, and shares have remained stable year-to-date after a significant recovery in recent months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates regarding the anticipated robotaxi launch.