Tesla’s stock saw an increase on Monday following Elon Musk’s enthusiasm regarding the company’s humanoid robots. Musk announced on social media that Tesla aims to have genuinely useful humanoid robots in limited production for internal use next year, with hopes to begin higher production for external clients by 2026.
During Tesla’s annual meeting in April, Musk indicated that the Optimus robots would enter limited production in 2025, expecting over 1,000 units to be operational by year’s end. Currently, two robots are on the factory floor, though Tesla has not disclosed their specific functions.
Musk has suggested that the introduction of these robots could potentially add $20 trillion to the company’s market capitalization. However, the robots are not anticipated to be available for sale until late 2025, with expected pricing between $20,000 and $30,000.
The definition of “genuinely useful” robots is still uncertain, particularly given past demonstrations that have drawn skepticism. For instance, in May, Tesla faced criticism for sharing a video of an Optimus robot folding a shirt, which was allegedly being operated by someone off-camera.
Analysts have also raised doubts about Tesla’s ability to compete in the humanoid robotics space. Craig Irwin from MKM highlighted that Tesla’s presentation of the Optimus project, which included a dancer in a robot suit, raises questions about the company’s technological advancement compared to rivals like Boston Dynamics.
In addition to Boston Dynamics, Tesla will face competition from Honda and Apptronik, while Chinese companies like Dongfeng and Nio are testing humanoid robots from UBTech Robotics. BMW has also been utilizing humanoid robots from Figure in its facilities since the beginning of the year.
Musk’s statements contributed to a more than 3% rise in Tesla’s stock on Monday, which has remained relatively stable year-to-date following a significant recovery over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, during which Musk is expected to provide updates on the anticipated rollout of the robotaxi.