Tesla’s stock experienced an increase on Monday as CEO Elon Musk continues to highlight the potential of the company’s humanoid robots. Musk announced on X that Tesla aims to have genuinely useful humanoid robots in low production for internal use by next year, with hopes for widespread production for other companies by 2026.
During Tesla’s annual shareholders meeting in April, Musk stated that the Optimus robots would enter limited production by 2025 and predicted that over 1,000 units would be operational at Tesla by the year’s end. Currently, two robots are on the factory floor, but the specific tasks they perform remain undisclosed.
Musk has proposed that the success of the robots could contribute up to $20 trillion to Tesla’s market valuation. The robots, however, are not anticipated to be available for purchase until late 2025, with projected prices ranging between $20,000 and $30,000.
There is skepticism regarding Musk’s description of the robots as “genuinely useful.” Previous demonstrations have sparked criticism, such as a May video where an Optimus appeared to fold a shirt but was later revealed to be controlled by someone off-camera.
Tesla’s approach to showcasing its robotics has faced scrutiny, particularly following the company’s initial reveal of the Optimus project in 2021, which featured an individual dancing inside a robot suit. Analyst Craig Irwin from Roth MKM commented that achieving a functional humanoid robot by 2025 seems unrealistic, especially given the current capabilities displayed by Tesla in comparison to competitors like Boston Dynamics.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik in the humanoid robot arena. Chinese companies Dongfeng Motor and Nio are also experimenting with humanoid robots from UBTech Robotics in their production lines, while BMW has been using humanoid robots from Silicon Valley’s Figure since January.
Following Musk’s comments, Tesla’s stock price rose over 3% on Monday. The shares have generally remained stable year-to-date following a significant rebound in the past two months. Tesla is set to release its second-quarter earnings on Tuesday, where Musk is expected to provide an update on the company’s delayed robotaxi project.