Tesla also scrapped its mission to “accelerate the transition to sustainable energy,” replacing it with a new goal of building “a world of amazing abundance.”

In its earnings report on Wednesday, Tesla said it invested $2 billion in xAI, Elon Musk's artificial intelligence startup.

High hopes for Optimus robot help company beat forecasts despite yearly revenue decline and flailing car business

Tesla also scrapped its mission to “accelerate the transition to sustainable energy,” replacing it with a new goal of building “a world of amazing abundance.”

Multi-billionaire Elon Musk also announced plans to end production of its Model S and Model X vehicles.

Electric car company to invest $2bn in artificial intelligence start-up as part of pivot away from auto market.