The company’s chief executive, Elon Musk, said this week that it would stop making the car, an electric pioneer in 2012, as well as the Model X.

Tesla’s Model S sedan will be discontinued by the carmaker, alongside the Model X crossover SUV, in a push to focus on humanoid robots.

"It’s time to bring the Model S and X programs to an end with an honorable discharge," Musk said, adding that Tesla intends to "basically stop production" of the vehicles next quarter.

Tesla is putting the brakes on production of the Model S and Model X.

Tesla is set to phase out two of its longest-running and most iconic models, the Model S and Model X, marking the end of an era for the American EV maker.

Notably, the CNBC report said that Tesla is turning its focus to driverless cars and humanoid robots in the future — both areas have virtually no business or profits at present.