Tesla’s annual profit plunged to its lowest level since the pandemic as it ceded 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.

The company will stop making the pioneering EVs in the second quarter of 2026, CEO Elon Musk announced Wednesday.

The Fremont factory will still manufacture Model 3 and Y, but the space where Model S and X are made will instead focus on mass production of Tesla's Gen 3 Optimus 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.

Elon Musk said Tesla Inc. needs to build and operate what he is calling a “TeraFab” to manufacture semiconductors, a massive undertaking that will cost billions of dollars and mark another expansion beyond what had been the company’s core electric vehicle business.

Tesla is set to report earnings after the market closes today, with traders expecting a sizable move from the electric vehicle maker's stock following the results.

The investment in xAI is expected to support Tesla’s self-driving technology development and broader AI integration across its products. The

A 2024 Tesla Model S has reportedly achieved the first zero-intervention Tesla Full Self-Driving (FSD) Cannonball Run. The journey began in Los Angeles and ended in New York, with the small team covering 3,