Tesla’s stock saw a rise on Monday as Elon Musk continued to highlight the potential value of the company’s humanoid robots. Musk shared on X that Tesla plans to have functional humanoid robots in limited production for internal use by next year, with hopes for broader 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, forecasting that over 1,000 units might be operational within the company by year-end. Currently, two robots are reportedly on the factory floor, but Tesla has not disclosed their specific tasks.
Musk has previously speculated that the introduction of these robots could add around $20 trillion to Tesla’s market capitalization. The robots are anticipated to be available for sale at prices ranging from $20,000 to $30,000, although they are not expected to hit the market until late 2025.
However, the definition of “genuinely useful” robots remains somewhat ambiguous. Previous demonstrations have faced criticism, such as a video released in May showing an Optimus robot folding a shirt that was allegedly manipulated by an off-screen individual.
Tesla has had a history of using dramatic presentations to showcase its robotics. The introduction of the Optimus robot project in 2021 included a dancer in a costume, raising skepticism about the company’s serious approach to robotics.
Analysts have expressed doubts about Tesla’s ability to compete with established robotics firms like Boston Dynamics. Craig Irwin, a Roth MKM analyst, noted on Yahoo Finance that Tesla’s advancements seem outdated compared to the current state of robotics technology.
In addition to Boston Dynamics, Tesla faces competition from Honda and Apptronik in the humanoid robot space. Additionally, Chinese companies Dongfeng Motor and Nio are experimenting with humanoid robots developed by UBTech Robotics, while BMW has incorporated robots from Silicon Valley’s Figure into its manufacturing processes since early this year.
Following Musk’s remarks, Tesla’s stock increased by over 3% on Monday. The shares have remained relatively stable year-to-date after recovering significantly in the past two months. Tesla is slated to report its second-quarter earnings on Tuesday, where Musk is expected to provide updates on the anticipated robotaxi project, which has faced delays.