Tesla’s stock saw an increase on Monday as Elon Musk highlighted the potential value of the company’s humanoid robots. Musk stated on X that Tesla intends to have functional humanoid robots in low production for internal use by next year, with a goal of achieving high production for external companies by 2026.
During Tesla’s annual meeting in April, Musk projected that the Optimus robots would enter limited production in 2025, with over 1,000 robots operating at Tesla by the end of that year. Currently, two robots are on the factory floor, though Tesla has not disclosed their specific tasks.
Musk previously suggested that these robots could add as much as $20 trillion to the company’s market capitalization. The robots are not expected to be available for sale until late 2025, with prices anticipated to range between $20,000 and $30,000.
However, the term “genuinely useful” raises questions, as earlier demonstrations have not been particularly convincing. In May, the company faced criticism for allegedly showcasing a video of an Optimus robot folding a shirt, which was reportedly controlled by an off-screen individual.
Tesla’s history with marketing its robots has been controversial; the company introduced the Optimus robot project in 2021 with a performance that featured an individual in a costume dancing.
Analyst Craig Irwin from Roth MKM commented on Yahoo Finance, questioning the prospect of a truly sentient humanoid robot by 2025 and noting the significant competition Tesla faces from established players like Boston Dynamics. He mentioned that what Tesla has demonstrated so far is fairly outdated.
In addition to Boston Dynamics, Tesla must compete with Honda, Apptronik, and Chinese automakers Dongfeng Motor and Nio, who are exploring humanoid robots developed by UBTech Robotics. BMW has also begun using humanoid robots from Figure in its operations since January.
Following Musk’s remarks, Tesla’s shares rose by over 3% on Monday. The stock has remained stable year-to-date after a strong rebound in the previous two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to update on the company’s delayed robotaxi launch.