Tesla halts Model S and X production
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Tesla confirms it will end Model S and Model X production as BYD's rapid rise reshapes the global electric vehicle market.
The Model S sedan and Model X SUV sell in smaller quantities compared to the Model 3 and Model Y, which together represent the majority of Teslas global sales.
Guidance for CapEx increased significantly from a projection of $9 billion in Q3 2025 to an expectation of more than $20 billion in 2026. Strategic focus shifted from scaling production and FSD rollout to major investments in AI, robotics, battery supply chain, and the wind-down of Model S/X.