Highlighting the change, CEO Elon Musk said Tesla would end production of its Model X SUV and Model S sedans and instead use the space in its California factory to make humanoid robots. “The bigger story,” he said, “is the business model transition now under way” as Tesla focuses on autonomous driving. Taneja said on the call that Tesla has more than $44-billion in cash and investments on the books that it can use to fund the investments. Musk said Tesla was embarking on some of the spending projects not for fun, but rather “out of desperation”. “It’s very hard to build these things.” — Chris Kirkham and Akash Sriram, (c) 2026 ReutersGet breaking news from TechCentral on WhatsApp.