Tesla’s stock experienced a notable increase on Monday as CEO Elon Musk emphasized the promising potential of the company’s humanoid robots. In a post on X, Musk revealed that Tesla plans to have functional humanoid robots for internal use by next year, with hopes of achieving mass production for external clients by 2026.
During Tesla’s annual shareholders meeting in April, Musk had previously stated that the Optimus robot would enter limited production by 2025, projecting that over 1,000 units could be in operation at Tesla facilities by the end of that year. Currently, two prototypes are already on the factory floor, although the specific tasks they perform remain undisclosed.
Musk suggested that the introduction of these robots could dramatically increase Tesla’s market capitalization by as much as $20 trillion, despite the fact that the robots may not be available for sale until late 2025, with projected prices ranging from $20,000 to $30,000.
However, the term “genuinely useful” has been met with skepticism, especially considering past demonstrations that have attracted criticism. For instance, a video of an Optimus robot folding laundry earlier this year raised doubts, as observers noted it appeared to be controlled by an off-screen operator. Additionally, Tesla’s initial demonstration of the Optimus project back in 2021 included a human in a robot suit, which some analysts viewed as misleading.
Critics like Craig Irwin, an analyst at MKM, have pointed out the challenge Tesla faces in competing against established firms such as Boston Dynamics, Honda, and others that are already making strides in humanoid robotics.
Despite the ongoing skepticism, Tesla’s stock rose over 3% following Musk’s remarks, reflecting continued investor interest. Year-to-date, shares have maintained a stable position after a significant recovery over the past two months. Tesla is slated to report its second-quarter earnings on Tuesday, where Musk is expected to update investors on the delayed robotaxi unveiling.
This ongoing development in humanoid robotics holds the potential to reshape Tesla’s future, pushing boundaries in technology and production capabilities. As competition rises, Musk’s ambitious vision could inspire innovations that pave the way for further advancements in automation and AI within the automotive industry.