Tesla CEO Elon Musk announced Wednesday, Jan. 28 that the electric auto company will end its production of Model S and Model X vehicles. The models are two of Tesla’s oldest models, the Model S unveiled in 2012 and the X in 2015.
Per ABC7 News, the EV company reported that net income last year dropped 46% to $3.8 billion. For the fourth quarter of 2025, Tesla’s net income was down 61%. In spite of this, Tesla stock was up 9% in 2025, and gross profits were up 20%.
Musk has said the factory in Fremont will now be converted to produce Tesla’s Optimus humanoid robots. According to their website, Optimus is an “autonomous humanoid robot capable of performing unsafe, repetitive or boring tasks.”
