Tesla’s stock price saw an increase on Monday, driven by Elon Musk’s ongoing promotion of the company’s humanoid robots. Musk stated on social media that Tesla will begin low-volume production of humanoid robots for internal use next year, with hopes for higher production for other companies by 2026.
At Tesla’s annual meeting in April, Musk mentioned plans for the Optimus robot to enter limited production in 2025, predicting more than 1,000 units to be operational at Tesla by the end of that year. Currently, two robots are already present on the factory floor, although the specifics of their tasks remain undisclosed.
Musk speculated that these robots could contribute an additional $20 trillion to Tesla’s market value, although they are not anticipated to hit the market until late 2025, with prices expected between $20,000 and $30,000.
The clarification from Musk regarding the term “genuinely useful” in reference to the robots is still ambiguous. Previous demonstrations have drawn skepticism; in May, Tesla faced criticism for a video in which an Optimus robot appeared to fold a shirt, which was later alleged to have been manipulated by an off-screen operator.
Tesla has previously faced accusations of presenting misleading showcases for its robots. The original launch of the Optimus project in 2021 featured a person in a robotic costume dancing, raising doubts about the project’s authenticity.
Analyst Craig Irwin from Roth MKM expressed doubt about Tesla’s ability to catch up to competitors like Boston Dynamics, highlighting that their technology appears outdated compared to industry standards from nearly a decade ago.
In addition to Boston Dynamics, Tesla is competing against Honda, Apptronik, and Chinese manufacturers Dongfeng Motor and Nio, which are experimenting with humanoid robots from UBTech Robotics. BMW also partnered with Figure’s humanoid robots in its operations earlier this year.
Following Musk’s comments, Tesla’s stock rose by over 3% on Monday, maintaining roughly stable performance year-to-date after a significant recovery in the past two months. The company is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates regarding the delayed launch of the robotaxi.