Tesla is killing 2 popular car models to make robots
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On Tesla's fourth-quarter earnings call, CEO Elon Musk said the company is ending production of its Model S and X vehicles.
Tesla fast-tracks Optimus humanoid robots, shifting factory space and strategy as Musk promises mass production and a poverty-free future.
Speaking at the World Economic Forum in Davos, Switzerland last week, Musk said that Tesla is “planning to make its Optimus robots available for sale to the public by the end of 2027.” That is when Tesla will be confident that the robots will be highly reliable, safe and functional. The robots will be able to perform any task, he said.
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Tesla made smallest annual profit since the pandemic, plans to spend big on robotaxis and robots
Tesla’s annual profit plunged to its lowest level since the pandemic five years ago as it lost the title of the world’s biggest electric vehicle maker to a Chinese rival and boycotts hammered sales. The EV company run by Elon Musk reported Wednesday that net income last year dropped 46% to $3.
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Tesla profit plunges as AI expenses pile up and sales fall
Tesla's quarterly profit dropped sharply as Elon Musk's company deals with a slowdown in electric vehicle sales and ballooning costs. Why it matters: Tesla has ambitions to become an AI powerhouse, but meanwhile it needs EV revenue to pay the bills.