Tesla to cease production of S and X models

Tesla CEO Elon Musk announced the company’s plan to phase out the Model S and Model X electric vehicles this year, transitioning a California factory to produce humanoid robots instead. This marks the end of an era for vehicles that significantly contributed to Tesla’s growth and the mainstream acceptance of electric cars. Musk stated that production would wind down next quarter while the company continues to support existing owners. The announcement came alongside Tesla’s mixed financial results, reflecting challenges in vehicle sales amid increased competition and Musk’s political involvement.