{
  "id": 15982456,
  "title": "Tesla profits fall on higher spending as 'Elon Inc.' talk builds",
  "url": "https://urgent.news/2026/10/22/tesla-profits-fall-on-higher-spending-as-elon-inc-talk-builds",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-22T01:15:48.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1561084/tesla-profits-fall-higher-spending-elon-inc-talk-builds"
  },
  "original_language": "en",
  "account": "Tesla's third-quarter profits declined in the period, falling 42.7 percent year-over-year to $787 million. Revenue remained relatively flat at $28 billion. The drop in earnings came as Elon Musk's electric vehicle company increased spending on AI, robotics, and autonomous transport technologies. The company also witnessed a decline in revenues from regulatory credits, energy, and storage sectors. In addition to the profit reduction, Tesla's announcement of special committees at SpaceX and Tesla to discuss a potential merger, dubbed \"Elon Inc.,\" generated considerable buzz. Shares of both companies rose on the news, boosting Musk's wealth back near $1 trillion. The potential merger has drawn attention to the possibility of \"Elon Inc.,\" though the two companies have not agreed on any terms.",
  "summary": "NEW YORK: Tesla reported lower third-quarter profits Wednesday as near-trillionaire Elon Musk’s electric vehicle maker ramped up huge investments in artificial intelligence and other envelope-pushing technologies.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}