Tesla to Gradually Halt Production of Model S/ Model Y Next Quarter as Focus Shifts to Robotics Tech
Tesla (TSLA.US) CEO Elon Musk said that the Company will gradually cease production of new Model S and Model Y vehicles next quarter.
The space in the California factory currently used for producing Model S and Model X will be repurposed for the manufacturing of Optimus robots, further advancing the Company's transition from EV operations to the robotics sector.
The above decision is part of the Company's transformation towards future autonomous driving, Musk added. The Company aims to produce 1 million Optimus robots annually at its California facility.
However, he warned that humanoid robots from China could pose potential competition, and believed that people outside China often underestimate the country.
Tesla's share price climbed 1.9% to US$439.76 in after-hours trading session.
~
AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| TSLA (C) |
11036 |
590 (-) |
0.375 |
5.3 X |
| TSLA (C) |
10010 |
530 (-) |
0.131 |
10.5 X |
| TSLA (P) |
11037 |
435 (-) |
0.890 |
3.0 X |
| TSLA (P) |
10011 |
370 (-) |
0.129 |
8.5 X |
