Tesla reported record third-quarter sales. (Image: Dhiraj Singh/ Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Tesla Inc.’s profit plunged as rising costs undercut a record quarter of vehicle sales, exposing strains on its operations while Chief Executive Officer Elon Musk shifts focus away from the automotive business.

Musk used Tesla’s third-quarter earnings to talk up ambitious-but-opaque initiatives including the company’s humanoid robot and artificial intelligence programs, and also pleaded with investors to back his trillion-dollar compensation package. But he offered few details about how Tesla will revive its core business selling electric vehicles after a 40% drop in operating profit.

“We’re left with this lingering uncertainty regarding what the ne

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