Tesla’s stock experienced an increase on Monday as CEO Elon Musk continues to emphasize the potential value of the company’s humanoid robots.
Musk stated on X that, “Tesla will have genuinely useful humanoid robots in low production for internal use next year and, hopefully, high production for other companies by 2026.” This statement aligns with his comments made in April during Tesla’s annual meeting, where he mentioned that the company’s humanoid robot, named Optimus, would enter limited production in 2025, with a goal of having over 1,000 robots operational by the end of that year. Currently, two robots are on the factory floor, although Tesla has not disclosed their specific roles.
In his April remarks, Musk suggested that the introduction of these robots could potentially add $20 trillion to Tesla’s market capitalization. Although the robots won’t be available for sale until late 2025, pricing is expected to range between $20,000 and $30,000.
However, the true functionality of these robots remains uncertain, especially following previous product demonstrations that raised eyebrows. For instance, in May, Tesla was criticized for releasing a video supposedly showing Optimus folding a shirt, which was later revealed to be controlled by an unseen operator.
This is not the first instance where Tesla has been accused of using showmanship to present its robots. The unveiling of the Optimus robot in 2021 featured a person dancing inside a robot costume.
Analyst Craig Irwin from Roth MKM expressed skepticism about Tesla’s ability to deliver a sentient humanoid robot by 2025, highlighting the company’s past attempts at showcasing the technology. He noted that competing firms like Boston Dynamics have a significant lead, with current offerings that Irwin believes are more advanced than Tesla’s current demonstrations.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik. Chinese companies like Dongfeng Motor and Nio are also pioneering humanoid robots created by UBTech Robotics, and BMW has been utilizing Silicon Valley-based Figure’s humanoid robots in its facilities since early 2023.
Following Musk’s comments, Tesla’s stock saw a rise of more than 3% on Monday, with shares remaining relatively stable year-to-date after a notable recovery over the past two months. Tesla is set to report its second-quarter earnings on Tuesday, where Musk is anticipated to provide updates on the delayed launch of the company’s robotaxi service.