subscribers. Become an Insider
and start reading now.
Have an account? .
- Tesla CEO Elon Musk said the company will be discontinuing the Model S and X in the next quarter.
- The CEO said the goal is to focus on the company’s “autonomous future.”
- The Model S and X were sold in lower volumes compared to the more popular Model 3 and Y.
Tesla CEO Elon Musk said on Wednesday that the company will be discontinuing the Model S and X in the next quarter, bringing an end to the EV maker’s more premium SUV and sedan models.
“It’s time to basically bring the Model S and X programs to an end with an honorable discharge, because we’re really moving into a future that is based on autonomy,” the CEO said during Tesla’s fourth-quarter earnings call.
Musk said Tesla is replacing the Model S and Model X production lines in its Fremont Factory in California with an Optimus factory, with the long-term goal being to produce one million robots a year.
Tesla will continue to support the Model S and Model X vehicles for as long as people have them, Musk said, adding that for people interested in owning one, “now would be the time to order it.”
The CEO said the shift was “slightly sad” but part of the company’s “overall shift to an autonomous future.”
Tesla’s stock was up Wednesday after the company beat earnings expectations and announced it would invest $2 billion into xAI, Musk’s AI company.
This is a developing story. Check back for updates.