Tesla’s stock is experiencing an increase on Monday, driven by Elon Musk’s ongoing promotion of the potential benefits of the company’s humanoid robots. Musk stated on social media that Tesla aims to introduce genuinely useful humanoid robots for internal use in low production next year, with hopes of high production for external companies by 2026.
At Tesla’s annual meeting in April, Musk projected that the humanoid robot, named Optimus, would enter limited production by 2025, with more than 1,000 units operational at the company by the year’s end. Currently, two robots are being utilized on the factory floor, though Tesla has not disclosed their specific functions.
Musk previously suggested that the launch of these robots could potentially add $20 trillion to Tesla’s market value. However, the robots are not anticipated to be available for purchase until late 2025, with pricing expected to range from $20,000 to $30,000.
The definition of “genuinely useful” by Musk remains vague, as previous product demonstrations have underwhelmed. For instance, in May, a video allegedly showing an Optimus robot folding a shirt was criticized for actually featuring a person controlling the activity from off-camera.
Critics have noted that Tesla has a history of sensationalism in showcasing its robots. The original Optimus project debut in 2021 included a person dressed in a robot costume performing a dance.
Analyst Craig Irwin from MKM commented on Yahoo Finance, expressing skepticism about achieving a sentient humanoid robot by 2025, especially given Tesla’s previous attempts to launch the product alongside gimmicky presentations. He emphasized the challenge Tesla faces in catching up with competitors like Boston Dynamics, pointing out that the technology shown so far lacks the advancements seen in recent years.
Aside from Boston Dynamics under Hyundai, Tesla also faces competition from Honda and Apptronik in Japan. Chinese manufacturers, including Dongfeng Motor and Nio, are experimenting with humanoid robots developed by UBTech Robotics in their factories, while BMW has incorporated humanoid robots from Silicon Valley’s Figure into their operations since January.
Musk’s remarks have contributed to a more than 3% increase in Tesla’s stock on Monday, with shares remaining stable year-to-date following a significant rebound over the past two months. Tesla’s second-quarter earnings report is set to be released on Tuesday, where Musk is expected to provide updates on the delayed robotaxi launch.