NEW YORK (AP) — Tesla’s annual profit plunged to its lowest level since the pandemic five years ago as it lost the title of the world’s biggest electric vehicle maker to a Chinese rival and boycotts hammered sales. Tesla’s fourth quarter profit also fell sharply, dropping 61% to $840 million, or 24 cents. Musk said that European regulators would approve its partial self-driving software in the first three months last year, a potential big boost to Tesla sales there. And a strong revival in sales Musk heralded midway through the year also failed to materialize. The robotaxi program has progressed slowly, which Musk told investors is due to Tesla being extremely cautious to avoid mishaps.