Elon Musk says Tesla is discontinuing Model S and Model X giving them an ‘honorable discharge’

• Tesla CEO Elon Musk said the company will be discontinuing the Model S and X in the next quarter.
• The CEO said the goal is to focus on the company's "autonomous future."
• The Model S and X were sold in lower volumes compared to the more popular Model 3 and Y.

Tesla CEO Elon Musk said on Wednesday that the company will be discontinuing the Model S and X in the next quarter, bringing an end to the EV maker's more premium SUV and sedan models.

"It's time to basically bring the Model S and X programs to an end with an honorable discharge, because we're really moving into a future that is based on autonomy," the CEO said during Tesla's fourth-quarter earnings call.

This is a developing story. Check back for updates.