Tesla sends the Model S and Model X to live on a farm upstate, canceling its two longest-running EVs to make way for an autonomous, robotic future.

In a surprising turn of events, Tesla is killing off two of its car models to focus on making humanoid robots that are set to be released in 2027.

The Fremont factory will still manufacture Model 3 and Y, but the space where Model S and X are made will instead focus on mass production of Tesla's Gen 3 Optimus robots.

Energy storage products like the Megapack, Megablock, and Powerwall drove

Full-year revenue dropped to $94.8 billion from $97.7 billion as Tesla rode the wave of consumer demand that forced consumers to rush to dealerships to take advantage of the expiring $7,500 government tax credit, then abandon EV sales after it expired at the end of September.

Tesla earnings beat Wall Street's estimates. The stock rose in after hours trading. A call with analysts is scheduled for 5:30 p.m. ET.

Initially, when electric-car maker Tesla ( TSLA 3.45%) released its fourth-quarter results, the stock popped. But shortly after the market opened on Thursday, the stock's return for the day turned negative. This has added to the stock's weakness in recent weeks. As of this writing, the stock is down more than 11% over the past month.

Earnings season is in full swing, with 102 companies in the S&P 500 index reporting earnings this week, according to LSEG. ↘️ Tesla (TSLA): The automaker [canceled two electric-vehicle models](