Technology · 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.

By BriefTea Editorial · 31 January 2026 at 22:00

Reported by BBC · How we write briefs

Get the app

More briefs

WorldTurkey, Saudi Arabia and Pakistan to discuss new mutual protection deal on Monday WorldIran's unseen supreme leader urges Gulf countries to fight a shared enemy BusinessIceland supermarket boss tells the Chancellor to cut business taxes for employers GeneralNigel Farage's £5m donor has major stakes in arms industry PoliticsTreasury officials advise John Healey to tax banks and oil companies more HealthCorrecting hearing loss can cut dementia risk by almost half Browse all stories →