Tesla’s stock experienced a boost on Monday as Elon Musk emphasized the company’s ambitions regarding humanoid robots. Musk stated on social media platform X that Tesla anticipates having genuinely functional humanoid robots in limited production for internal use by next year, with hopes for broader production for external companies by 2026.
During a shareholder meeting in April, Musk expressed that the company would begin limited production of its Optimus robots in 2025, projecting that over 1,000 of these robots could be operational at Tesla by year-end. Although two robots are currently on the factory floor, Tesla has not disclosed their specific roles.
Musk suggested that the introduction of these robots could potentially add $20 trillion to Tesla’s market value. The robots are not expected to go on sale until late 2025, with anticipated prices ranging from $20,000 to $30,000.
There remains some ambiguity around Musk’s claims regarding the robots’ practical utility. Previous product demonstrations have drawn skepticism; in one instance, Tesla faced criticism for sharing a video that appeared to show an Optimus robot folding a shirt, which was later revealed to be controlled by an operator off-screen.
Tesla has faced scrutiny in the past for its promotional approaches, including the controversial debut of its Optimus project in 2021 featuring a dancer in a robot suit. Analyst Craig Irwin from Roth MKM noted the challenges Tesla may face in competing with established companies like Boston Dynamics, stating that their current offerings seem outdated.
In addition to Boston Dynamics, Tesla contends with competitors such as Honda and Apptronik in the humanoid robot sector. Chinese companies like Dongfeng Motor and Nio are testing humanoid robots from UBTech Robotics in production lines, while BMW has incorporated robots manufactured by Silicon Valley’s Figure since January.
On the back of Musk’s remarks, Tesla’s stock rose by over 3% on Monday. Despite a flat performance for the year overall, the shares have seen a significant rebound in the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the long-awaited robotaxi launch.