Elon Musk says Tesla will stop producing its S and X models
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Tesla profit plunges
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Future of the company lies in equipping and running a global fleet of driverless taxis and in selling humanoid robots
Tesla's earnings report comes weeks after Elon Musk's automaker reported another decline in vehicle deliveries.
The company will stop making the pioneering EVs in the second quarter of 2026, CEO Elon Musk announced Wednesday.
Dan Levy, Barclays senior U.S. autos and mobility analyst, joins 'Squawk Box' to discuss Tesla's quarterly earnings results, the company's pivot towards autonomous taxis and 'Optimus' robots, growth outlook,
It turns out investors are willing to forgive huge capital spending if a company's core business is thriving.
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.
The automaker also said it would invest $2 billion in xAI, the artificial intelligence company controlled by its C.E.O., Elon Musk, and stop making the two oldest cars in its lineup.