On an earnings call January 28, Tesla CEO Elon Musk told investors the automaker will “basically stop production of Model S and X next quarter.”

Tesla dominated the electric vehicle industry by the mid-2010s with sleek, fast cars that helped combat the public perception that EVs were severely limited by short ranges.

CEO Elon Musk recently provided encouraging updates on Tesla's autonomous driving and humanoid robotics technology.

By Chris Kirkham and Akash Sriram LOS ANGELES, Jan 28 (Reuters) - Tesla plans to more than double capital spending to a record high of more than $20 billion this year - but little of it will go to its traditional business of selling electric vehicles to human drivers.

Tesla fast-tracks Optimus humanoid robots, shifting factory space and strategy as Musk promises mass production and a poverty-free future.

On Thursday, Elon Musk gave wide-ranging remarks that included new timelines for Tesla Inc. (NASDAQ:TSLA) humanoid robot and Full Self-Driving software. Musk Teases Optimus Sales Timeline At Davos Making a surprise debut at the World Economic Forum in Davos,

Tesla gained 3% after Musk said Optimus humanoid robots will be sold to consumers by end of 2026 following safety testing.

Instead of rolling out new car models, Musk is also betting that Tesla’s future is providing robotaxis as a service. It stands to reason why the company needs to find a new growth area. The US giant lost its crown as the world’s top-selling EV brand to China’s BYD in 2025,