Tesla’s stock experienced a notable increase on Monday, primarily driven by Elon Musk’s promotion of the company’s upcoming humanoid robots. Musk stated on social media that Tesla plans to have “genuinely useful humanoid robots” in limited production for internal use by next year, with the anticipation of larger-scale production for external companies by 2026.
At Tesla’s annual meeting in April, Musk revealed that the robot, named Optimus, would move into limited production in 2025, aiming for over 1,000 units to be operational at Tesla facilities by the end of that year. Currently, two robots are already on the factory floor, although Tesla has not disclosed their specific roles.
Musk has also suggested a hypothetical scenario where the introduction of these robots could contribute an astonishing $20 trillion to Tesla’s market cap. The robots are projected to be available for purchase between $20,000 and $30,000 by late 2025.
Despite the ambitious projections, there remains skepticism regarding the capability and readiness of these robots. Critics have pointed out previous demonstrations, such as a video depicting an Optimus folding shirts, which appeared to be manipulated by an off-screen operator. Roth MKM analyst Craig Irwin raised doubts about Tesla’s progress compared to competitors like Boston Dynamics, mentioning that the technology displayed by Tesla seems outdated.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik, with other companies like Dongfeng Motor and Nio testing humanoid robots developed by UBTech Robotics, and BMW using humanoid robots from Silicon Valley-based Figure.
Following Musk’s optimistic remarks, Tesla’s stock soared over 3% on Monday, maintaining stability year-to-date after a significant recovery in the past two months. Investors are eagerly awaiting Tesla’s second-quarter earnings report on Tuesday, where Musk is expected to provide updates on the anticipated robotaxi unveiling.
While skepticism surrounds the capabilities of Tesla’s humanoid robots, Musk’s vision could ultimately lead to significant advancements in automation and robotics within the workforce. This could open up a new realm of possibilities for industries looking to integrate cutting-edge technology, maintaining hope for the future of innovation in electric vehicles and beyond.
In summary, Tesla’s stock is buoyed by optimistic projections for humanoid robots, despite ongoing doubts about their practical capabilities. With anticipated advancements, Tesla could potentially reshape various sectors through automation.