General · 31 January 2026
Tesla ends Model S and X production as profits crash 61 percent
Tesla announces the termination of Model S and Model X production to manufacture Optimus humanoid robots at its California facility. The decision follows a 3 percent annual revenue decline in 2025 and a massive 61 percent profit crash in the final quarter. CEO Elon Musk also revealed a controversial $2 billion investment in xAI and plans to ramp up spending by $20 billion, despite China's BYD overtaking Tesla as the top EV maker.
Reported by BBC · How we write briefs