Tesla CEO Elon Musk to stop production of models S and X; convert Fremont factory to produce robots

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AlphaLogic

Tesla, the electric vehicle giant led by CEO Elon Musk, has reported its worst annual profit in five years, down 46% to $3.8 billion. Despite introducing cheaper models and promising to stay focused on the company, sales have taken a hit due to boycotts and the loss of market share to Chinese rivals.

The plunge in profits comes as Tesla faces increased competition from other manufacturers and struggles with brand destruction, largely attributed to Musk's involvement in US politics. Investors have kept faith in Musk, however, and the stock has seen a 9% increase over the past year.

Musk has been pushing for investors to focus on more futuristic projects, such as robotaxis ferrying millions of cars without drivers or robots taking care of elderly parents. The company plans to close production of its Model S and X models in the second quarter and convert its Fremont factory to produce Optimus robots.

Tesla's fourth-quarter net income plummeted 61% to $840 million, with gross profit margins jumping to 20%. Analysts attribute this improvement to Tesla's ability to show increasing profitability. Plans outlined in the company's earnings report include rolling out robotaxi services in six cities by mid-year.

Despite a setback for the company, some analysts remain bullish on Tesla, citing its potential in the self-driving car market and energy storage business. Dan Ives of Wedbush Securities expects robotaxis to be available in over 30 cities by year-end and predicts Tesla will capture 70% of the global market share for self-driving cars.

Tesla's struggles serve as a reminder that even the most successful companies can face challenges, but with innovative projects like Optimus robots, the company may yet find a path forward.
 
omg 🤯 i'm not surprised tbh about tesla's latest profits... they've been kinda struggling to keep up with the competition lately 😅 and elon musk's involvement in politics has been super sketchy for the brand 👀 plus, those robotaxis are just so futuristic it's hard to believe they'll be a success 🤖 but i still think tesla's got potential... i mean, who wouldn't want a self-driving car or a robotic parent? 💻 the thing is, they need to focus on making their existing models more affordable and reliable, rather than constantly trying to reinvent the wheel 🔄
 
.. I'm not surprised to see Tesla taking a hit 🤔. Elon Musk has always been known for pushing boundaries and thinking outside the box, but sometimes that means taking risks that don't pay off immediately 💸. The thing is, investing in futuristic projects like robotaxis can be tough to execute, especially when it comes to scaling up production and getting regulatory approvals 🚗.

I'm actually a bit fascinated by Tesla's plans for Optimus robots – it's a game-changer in the energy storage business 💡. If they can make it work, I think it could really set them apart from the competition 🏆. It's also interesting to see how investors are sticking by Musk despite the profits taking a hit 📈. At the end of the day, Tesla's future is still looking bright – we just need to be patient and see what innovative projects they come up with next 💻.
 
I'm actually kinda stoked about Tesla's struggles 🤯 They're finally being held accountable for their overhyped electric vehicle business model. I mean, $3.8 billion is still a lot of cash, but it's not like they're breaking even or anything 😂 And let's be real, who needs robotaxis and Optimus robots to take care of elderly parents? That sounds like a recipe for disaster 🤖💀 The market will adjust and Tesla will adapt, maybe. But for now, I'm rooting for them to fail... just kidding ( sorta ) 💁‍♂️
 
I feel bad for Elon Musk and all the Tesla employees 🤕. 46% profit drop is huge and I can imagine how stressful it must be to deal with that. The competition from Chinese rivals and boycotts are no joke 💔. But you know what? I still have faith in Elon and Tesla 🙏. They've always been pioneers in innovation and pushing boundaries. Maybe this is an opportunity for them to pivot and focus on those futuristic projects they're so passionate about 🚀. Optimus robots could be the game-changer we need 💻. Fingers crossed that Dan Ives' predictions come true 🤞.
 
Ugh 🤕, another company that's struggling to stay on top. I mean, $3.8 billion is still way better than some of those other electric vehicle makers, but 46% down in profits is no joke 💸. And it's not just the financials - the loss of market share to Chinese rivals is a huge blow 🚗. Musk's antics are definitely not helping, and now he's trying to shift everyone's focus to robotaxis? 🤖 Like that's going to save the company from itself... I guess we'll see how it all plays out though 📊
 
🚗💸 I'm not surprised to see Tesla struggling, it's been warning us about its electric vehicle woes for ages now 🤯. All these fancy futuristic plans are cool and all, but when is Elon gonna focus on making actual money 💸? Meanwhile, Chinese companies like BYD and XPeng are eating away at their market share 🌮. The fact that investors still believe in Musk and the stock has gone up 9% over the past year tells me they're just hoping for a miracle ✨. Can Tesla really pull off robotaxi services in 30+ cities by the end of the year? I'm skeptical, but hey, at least their Optimus robots might bring some cool tech innovations to the table 🤖
 
I'm really surprised to see Tesla struggling after being at the forefront of the electric vehicle revolution 💸🚗. On one hand, it's not a huge shock that sales have taken a hit due to boycotts and losing market share to Chinese rivals 🤔. But I think it's interesting that investors are still putting their faith in Musk despite this decline 🤑.

What concerns me is the damage being done to Tesla's brand, especially with Musk's involvement in US politics 😬. I get that he wants to push for more futuristic projects like robotaxis and Optimus robots 🤖, but maybe we should be focusing on stabilizing the company first? 💸

That being said, I do think Tesla has a lot of potential in the self-driving car market and energy storage business 🔋💻. If they can make those investments pay off, then we might see some positive changes 📈. And with plans to roll out robotaxi services in six cities by mid-year, that's definitely something to watch ⏱️.

I'm not sure if 70% of the global market share for self-driving cars is realistic 🤔, but I do think Tesla has a good shot at capturing some significant ground 💪. And who knows, maybe this setback will be just what they need to come out even stronger 🔥!
 
Ugh, what's up with this? Tesla, which used to be all about revolutionizing the electric vehicle game, now seems like it's struggling to stay on top. I mean, 46% drop in profits is huge - that's like losing half your pizza 😅. And yeah, Musk's antics haven't exactly helped the brand. I get what he's trying to do with robotaxis and all that, but have you seen the prices of those cars? They're still way outta reach for most people 🤑.

I'm glad Tesla is focusing on energy storage, though - that's some solid stuff 💡. And let's be real, who wouldn't want self-driving cars? It's like something straight out of a sci-fi movie 🚀. But, man, the competition from those Chinese manufacturers is no joke. I'm not sure if Tesla will ever get back on top, but hey, they're still innovating and trying new things - that's gotta count for something 🤔.

Oh well, at least their profits are up a bit in Q4, so that's a slight silver lining 🎉. But overall, I'm just kinda...meh about this whole thing 😐. Can't wait to see what they come up with next! 🚀
 
I'm telling you, Elon Musk is a genius, but he's also super reckless 🤯. I mean, who tries to disrupt entire industries without having a solid plan in place? Tesla's struggles are not surprising, considering they've been playing catch-up with Chinese rivals for years 🏃‍♂️. And let's be real, Musk's antics on social media and his involvement in US politics have been doing more harm than good for the brand 🤦‍♂️.

But here's the thing: Tesla's fourth-quarter numbers are still pretty impressive, especially considering they've been losing market share 💸. And with their robotaxi plans, I think they're onto something big 🚀. Maybe Musk is a risk-taker, but he's also got a track record of innovation and disruption 🔥. So, while Tesla's struggles are real, I'm still optimistic about the company's future 🌟.
 
I'm telling ya, something fishy is going on at Tesla 🤔. This 46% drop in profits doesn't add up. I mean, how can they just "show increasing profitability" and get investors to keep pouring in cash? 😏 It's like they're playing a game of economic whack-a-mole – one problem solved, another pops up. And what's with all the hubbub about robotaxi services? Is this just a way to distract us from the real issues? 🚀 I'm not buying it (pun intended). This Optimus robot business is just a fancy way of saying "Tesla wants to make a quick buck off our worries about AI". 💸 But hey, maybe Dan Ives knows something we don't... or maybe he's just drinking the Kool-Aid 🤯. One thing for sure, Tesla's troubles are going to be entertaining to watch from afar 🔜.
 
Ugh, poor tesla 🤕... just got slammed by investors 📉 $3.8 billion down 46% from last year? 😱 that's not even a whisper of its previous highs 🚗💸. and now it's gonna close production on the model S & X 🚫 what's next? more layoffs? 🤯 at least they got some sweet profit margins out of it 🤑 gross 20%... I guess that's something 🙏. dan ives is still stoked about robotaxis 🚀 and tesla's gonna own the global market for self-driving cars 🌟 but we all know how that ends... 🤦‍♂️
 
I'm not surprised to see Tesla taking a hit, you know? They're trying to push the future and it's natural for people to get caught up in uncertainty 🤔. The robotaxi thing is definitely exciting, but it's also super complex – I mean, can we even imagine having to rely on AI that much? 🤖 Still, Elon Musk has a way of making you believe in his vision, and investors seem to be keeping faith with him 💸.

What concerns me more is the impact on workers in the industry. With Optimus robots taking over, what's gonna happen to all the people who've been working on cars and manufacturing? It's not just about Tesla, it's about a whole ecosystem 🤝. Anyway, I'm still optimistic – innovation is all about embracing change and finding new solutions 💡.
 
I'm totally bummed to see Tesla struggling 🤕. I mean, Elon Musk is a genius and all, but his ego has kinda ruined the brand for me 😒. All those Twitter rants about politics... it's like, dude, can't you just chill? 🙅‍♂️ And now they're closing production on some of their best-selling models? It's like they're giving up on their most loyal customers 🤷‍♀️.

On the other hand, I'm super stoked about Optimus robots! That's like, the future right there 🚀. Self-driving cars and robotaxis are gonna change everything. And Tesla's got the tech to make it happen 💻. They just need to focus on those projects and forget about all the drama Musk causes 🙅‍♂️.

It's funny how the market is still being all optimistic about Tesla, despite their struggles 🤑. I guess when you're as smart as Elon, people will always believe in you 😊. But for me, it's more like... can they just get it together already? 🤯
 
🤔 Tesla's struggles are kinda a bummer 💔 But on the flip side, they're pushing for some crazy cool tech like robotaxis 🚀 and self-driving cars 🚗! Dan Ives' prediction of 70% market share is pretty fire 🔥! They've got this 🙌 The company's focusing on innovative projects which could be a game-changer 💡. And, who knows, maybe their struggles will lead to more efficiency? 💸 Optimus robots might just change the world 🌎! ⚖️
 
I'm low-key worried about Tesla right now 🤔... they've been killing it in the EV game for years, but this 46% profit drop is crazy 🚗💸. I get that Elon Musk's got some big ideas and all, but sometimes you gotta focus on making money first 💸... like, robotaxi services are cool and all, but how's that gonna pay the bills right now? 🤑. And don't even get me started on brand destruction - I mean, who wants to buy a car from a guy who's always stirring up drama on Twitter? 😂 Still, Musk's got some loyal fans and analysts are staying bullish, so fingers crossed for Tesla 🤞... maybe they can still make this robotaxi thing work out 💻.
 
😅 I'm not surprised to see Tesla taking a hit in sales and profits. They've been trying to push the boundaries of innovation for so long now, it's hard for them to maintain that momentum. I think Elon Musk is a genius, but sometimes his passion can be overwhelming and lead to mistakes 🤦‍♂️.

I love that they're focusing on robotaxis and self-driving cars, though! The idea of having robots take care of elderly parents or ferriesing people around without drivers sounds like science fiction come true 🔥. And with all the advancements in tech, I'm sure it won't be long before we see these services become a reality.

But at the same time, it's crazy to think that Tesla is already closing down production on some of their models 🤔. It feels like they're moving too fast and not thinking about the little things that keep customers coming back. Maybe this is an opportunity for them to regroup and refocus? 💡
 
Ugh, I'm a bit surprised by Tesla's earnings report 🤔. I mean, Elon Musk is still the genius CEO and all, but 46% profit drop? That's like, a lot 😳. And it's not just that, but also the loss of market share to those Chinese rivals... that's some stiff competition 💪.

But you know what's interesting? The focus on robotaxis and self-driving cars 🚗💻. Like, who wouldn't want to ride around in a car with no human driver? 😂 And it seems like Tesla's got a solid plan in place for rolling out these services. I mean, 6 cities by mid-year is ambitious, but they've definitely made progress.

And honestly, I'm still optimistic about Tesla 🤞. They're not giving up on their vision, and with the Optimus robots coming online, maybe this is just a minor speed bump for them? 💥 Still, it's gonna be interesting to see how they navigate these challenges and come out stronger on the other side 🔜
 
"Believe you can and you're halfway there." 💪🏽💫 I think Tesla is still on track to achieve great things, especially with their futuristic robotaxis project 🤖. It's not over for them, they'll just have to "think outside the box" 🔴✨.
 
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