The announcement was made as part of the Q4 2025 Shareholders' update, during which the company reported its quarterly earnings and plans for 2026.

Tesla just debuted a major overhaul for the Model S and Model X interior featuring a Formula 1 inspired "Yoke" steering wheel. The Model S Plaid+ has 520 miles of range and will do 0-60mph in less than 2 seconds.

Tesla is giving the Model S and Model X the ax. Recent sales figures help explain why.

We can still remember reading the reviews from 2012. Like it or not, the Tesla Model S was pivotal in making EVs gain mass-market appeal, not just in America, but worldwide. It helped that it was a hugely competent car and practically set the baseline for EVs in the coming years.

Rocket company examining feasibility of both options before potential $1.5tn stock market flotation, report says