Far beyond the era of selling smart electric vehicles, Tesla is rewriting its identity as a pioneer in autonomous AI, robotics and next-generation mobility. With traditional vehicle sales slowing and profit margins compressing, the company is shifting capital and talent into projects like robotaxi services and humanoid robots, betting that the future of transport and automation will define its long-term value, not just car production. As both skeptics and believers watch Tesla’s transformation, the question investors face isn’t whether it can build cars — but whether it can lead the next industrial revolution.

Today, Tesla is at one of the most pivotal points in its history. While just a few years ago it was seen almost exclusively as a symbol of the electric car revolution, the current reality is significantly more complex and also significantly more problematic. Car sales in key markets are slowing, the price war is pushing margins down, and competition from China is turning from a…