Tesla (TSLA) will begin low-volume production of humanoid robots for internal use next year. Higher production for other companies is “hopefully” expected to start in 2026, according to CEO Elon Musk on the social media platform X.
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Musk’s statement comes months after he had previously announced that the rollout would be by the end of this year.
Tesla’s Foray Into Robots
Earlier this year, Musk had stated that Tesla’s humanoid robots, called Optimus, would be able to perform factory tasks by the end of this year and might be ready for sale by late 2025. Many companies, including Japan’s Honda and Hyundai Motor’s Boston Dynamics, have been developing humanoid robots for several years.
Musk’s Failed Promises to Wall Street
Tesla’s Robotaxi hype has persisted despite years of unfulfilled promises. For example, in 2019, Elon Musk stated, “I feel very confident predicting autonomous Robotaxis for Tesla next year.” However, Tesla’s Robotaxis have yet to make their debut.
Fast forward to 2024, and Tesla’s Full Self-Driving (FSD) cars still require constant driver supervision and occasional intervention. Some have even suggested that the latest version of FSD is getting worse rather than better.
Meanwhile, Tesla is expected to announce its Q2 results on July 23.
Is Tesla a Buy, Hold, or Sell?
Analysts remain sidelined about TSLA stock, with a Hold consensus rating based on 13 Buys and Holds each and nine Sells. Over the past year, TSLA has declined by more than 10%, and the average TSLA price target of $193.18 implies a downside potential of 19.2% from current levels.
