Tesla made smallest annual profit since the pandemic, plans to spend big on robotaxis and robots

NEW YORK (AP) — Tesla’s annual profit plunged to its lowest level since the pandemic five years ago as it lost the title of the world’s biggest electric vehicle maker to a Chinese rival and boycotts hammered sales. The EV company run by Elon Musk reported Wednesday that net income last year dropped 46% to $3.8 billion. It was the second year in a row of steep declines. The drop came despite the introduction of cheaper models and Musk's promise to remain laser-focused on the company after a foray into U.S ...