Elon Musk says Tesla will stop producing its S and X models
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The billionaire CEO of Tesla and SpaceX, in his first appearance at Davos, said Tesla could start selling its Optimus robots next year.
CEO Elon Musk says the company will close down production of two older car models, S and X, and convert the Fremont factory to produce its Optimus robots instead.
Tesla gained 3% after Musk said Optimus humanoid robots will be sold to consumers by end of 2026 following safety testing.
Telsa’s revenue and profits tumbled in the fourth quarter, capping off the most difficult year for the electric automaker since it became profitable six years ago.