Tesla’s stock experienced a rise on Monday as Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk mentioned on X that Tesla aims to utilize its humanoid robots in low production within the company next year, with hopes of scaling up production for other businesses by 2026.
During Tesla’s annual meeting in April, Musk indicated that the company would start limited production of its Optimus robot in 2025, forecasting that over 1,000 units would be operational by the year’s end. Currently, two robots are stationed on the factory floor, although Tesla has not revealed their specific roles.
Musk also speculated that the introduction of these robots could potentially increase the company’s market valuation by $20 trillion. The robots are not expected to be available for sale until late 2025, with projected pricing ranging from $20,000 to $30,000.
There is some ambiguity regarding Musk’s assertion that the robots will be “genuinely useful.” Previous demonstrations have raised skepticism, with one incident in May where Tesla was accused of showcasing a video of an Optimus robot folding a shirt that was actually manipulated by an off-screen operator.
Tesla’s past presentations of its robotics initiatives have also led to doubts, including the unveiling of the Optimus project in 2021, which featured a person dressed in a robot costume performing a dance.
MKM analyst Craig Irwin commented on Yahoo Finance regarding the challenges Tesla faces in this arena, noting that the company would struggle to catch up with competitors like Boston Dynamics. He remarked on the outdated nature of Tesla’s current demonstrations, likening them to technology from 2014.
In addition to Boston Dynamics, Tesla will face competition from Honda, Apptronik, as well as Chinese companies such as Dongfeng Motor and Nio, which are testing humanoid robots by UBTech Robotics in their production lines. Meanwhile, BMW has been utilizing humanoid robots from Silicon Valley’s Figure in its operations since the beginning of this year.
Following Musk’s statements, Tesla’s shares rose over 3% on Monday. The company’s stock has remained relatively stable year-to-date, rebounding significantly over the past couple of months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide an update on the delayed robotaxi project.