Tesla’s stock saw an increase on Monday as CEO Elon Musk highlighted the potential of the company’s humanoid robots. Musk announced on X that Tesla aims to produce usable humanoid robots for internal use next year, with plans for high production for external clients by 2026.
During Tesla’s annual meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, with a goal of having over 1,000 operational by year-end. Currently, two robots are reportedly on the factory floor, although Tesla has not disclosed their specific roles.
Musk has speculated that the robots could contribute an additional $20 trillion to Tesla’s market valuation, with sales anticipated to begin towards the end of 2025 at prices ranging from $20,000 to $30,000. However, the exact functionalities of the robots, which Musk describes as “genuinely useful,” remain uncertain. Previous demonstrations have faced criticism, including a May incident where a video showed an Optimus robot folding a shirt, which was allegedly manipulated by an off-screen operator.
Analyst Craig Irwin from Roth MKM expressed skepticism, pointing out Tesla’s past presentations, including the controversial unveiling of the Optimus project in 2021, which featured a dancer in a robot costume. He noted that Tesla may struggle to match the advancements made by competitors like Boston Dynamics, stating that Tesla’s showcased technology feels outdated compared to industry standards.
In addition to Boston Dynamics, Tesla also faces competition from Honda and Apptronik, as well as from Chinese companies like Dongfeng Motor and Nio, which are testing humanoid robots from UBTech Robotics. BMW has also integrated humanoid robots from Figure into its operations since January.
Following Musk’s remarks, Tesla shares rose more than 3% on Monday. The stock has remained relatively stable throughout the year after experiencing significant gains over the last couple of months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the delayed robotaxi project.