Artificial intelligence
from24/7 Wall St.
1 day agoTesla Ending Model X and Y Production
Tesla will end production of the Model S and Model X next quarter and convert the Fremont factory to Optimus humanoid robot manufacturing.
That agreement required Musk to grow Tesla's market value from around $60 billion to $650 billion, its 12-month revenue from below $20 billion to $175 billion, and its adjusted profits from under $1.5 billion to $14 billion to get the full compensation. Schiffer recalled the deal was labeled "insane" and "crazy," with commentators declaring there was "no way in hell he'll ever achieve that." "And you know what, he did," Schiffer added.