Tesla’s stock experienced a rise on Monday, fueled by Elon Musk’s continued promotion of the company’s humanoid robots. Musk announced on social media that Tesla will create “genuinely useful humanoid robots” for internal purposes in limited production next year, with hopes for higher production for external companies by 2026.
During Tesla’s annual shareholder meeting in April, Musk indicated that the Optimus robots would enter limited production by 2025, with plans for over 1,000 robots to be operational by the end of that year. Although two robots are currently being utilized on the factory floor, Tesla has not disclosed their specific functions.
Musk has previously suggested that these robots could potentially add $20 trillion to Tesla’s market value, with sales anticipated to start at the end of 2025, priced between $20,000 and $30,000. However, the exact nature of their “genuinely useful” capabilities remains unclear. Past demonstrations have drawn skepticism, such as a recent incident where a video appeared to showcase an Optimus folding a shirt, which was later revealed to be controlled by an off-screen person.
Critics have pointed out Tesla’s history of using elaborate presentations to highlight their robots, including a 2021 launch where a person danced in a robot suit. Analyst Craig Irwin from MKM commented that creating a sentient humanoid robot by 2025 seems unrealistic, especially considering the advanced competition they face from firms like Boston Dynamics and others in the industry.
In addition to facing competition from Hyundai’s Boston Dynamics, Tesla also contends with Honda and Apptronik, while Chinese companies like Dongfeng Motor and Nio are exploring humanoid robot applications from UBTech Robotics in their production lines. BMW has been using humanoid robots developed by Figure in their facilities since January.
Following Musk’s comments, Tesla’s stock climbed over 3% on Monday. The shares have remained relatively stable throughout the year after a significant recovery in the past couple of months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the long-delayed robotaxi unveil.