Tesla’s stock saw an increase on Monday as CEO Elon Musk highlighted the potential of the company’s humanoid robots. Musk shared on social media that Tesla aims to have these robots in limited production for internal use by next year, with hopes for higher production levels for external companies by 2026.
At Tesla’s annual shareholder meeting in April, Musk mentioned that the Tesla Optimus robot would begin limited production in 2025, projecting that over 1,000 units could be operational by year’s end. Currently, two robots are on the factory floor, although their specific roles have not been disclosed.
Musk previously suggested that the Optimus product could potentially add $20 trillion to Tesla’s market value. The robots are not expected to hit the market until late 2025, with anticipated prices between $20,000 and $30,000.
However, there is some skepticism about Musk’s claims regarding the robots’ usefulness. Previous demonstrations have been criticized, with allegations that a video of an Optimus robot folding a shirt was actually manipulated, featuring a person off-camera controlling the robot.
Analyst Craig Irwin raised concerns about Tesla’s competitiveness in the robotics field, noting that the company’s past demonstrations seem outdated compared to the advancements made by competitors like Boston Dynamics.
Tesla faces competition not only from Hyundai Motor’s Boston Dynamics but also from Honda and Apptronik in Japan, along with Chinese companies such as Dongfeng Motor and Nio, which are developing their own humanoid robots. BMW has been utilizing humanoid robots from Figure in its operations since January.
Tesla’s shares rose by over 3% following Musk’s comments, and year-to-date, the share price has remained stable after a significant rebound in the past two months. The company is set to report its second-quarter earnings on Tuesday, where updates on the delayed robotaxi rollout are expected from Musk.