Tesla’s stock experienced an increase on Monday as Elon Musk highlighted the company’s plans for humanoid robots. Musk stated on social media that Tesla aims to produce useful humanoid robots for internal use by next year, and anticipates a higher production for other companies by 2026.
In an April shareholders meeting, Musk had previously outlined a timeline for the Optimus robot to enter limited production by 2025, predicting that over 1,000 units would be functioning at Tesla by the year’s end. Currently, two robots are operational on the factory floor, although Tesla has not disclosed their specific roles.
Musk suggested that the robots could significantly boost the company’s market value, potentially adding $20 trillion. However, these robots are not expected to be available for sale until late 2025, with prices projected to range from $20,000 to $30,000.
The term “genuinely useful” used by Musk regarding the robots remains ambiguous, especially given that previous demonstrations have drawn criticism. Earlier this year, Tesla was accused of showcasing a video in which a robot appeared to fold a shirt, but it was later revealed to be controlled by an off-screen individual.
Tesla’s history of showcasing its robots has raised skepticism, as the debut of the Optimus project in 2021 featured a person in a robot costume dancing. Analysts have voiced doubts about Tesla’s ability to compete with established companies like Boston Dynamics.
In addition to Boston Dynamics, Tesla faces competition from Japanese companies such as Honda and Apptronik. Chinese manufacturers like Dongfeng Motor and Nio are testing humanoid robots from UBTech Robotics in their production lines, while BMW has been utilizing humanoid robots developed by Figure in its facilities since January.
Despite concerns, Tesla’s stock surged over 3% following Musk’s comments, maintaining relative stability in its year-to-date performance. The company is set to announce its second-quarter earnings on Tuesday, where further updates on its robotaxi project are anticipated.