In a twist that has the tech world buzzing, some senior Tesla executives recently expressed alarm when CEO Elon Musk countered a Reuters report dismissing a highly anticipated $25,000 electric vehicle project, often dubbed the Model 2. 🚗
Musk fired off a rapid tweet on X, stating "Reuters is lying" just minutes after the story broke on April 5, 2024, a move that temporarily halted a 6 percent drop in Tesla's stock. However, shares still closed 3.6 percent lower.
Behind closed doors, insiders revealed that the low-cost EV project had been canceled weeks earlier in favor of focusing on self-driving robotaxis. This decision has left many investors and team members scratching their heads, as the mass-market EV was seen as a pivotal promise for the company’s future. 🤔
Adding fuel to the debate, Chinese automaker BYD recently outsold Tesla in Europe for the first time. BYD’s entry-level Seagull electric hatchback, priced under $10,000 in the Chinese mainland, is now making waves in the affordable EV market, intensifying the pressure on Tesla. 🔥
While some executives voiced concerns over the conflicting messages, others noted that Tesla’s inherent flexibility might simply be a strategy to quickly adapt to ever-changing market conditions. As the company continues to navigate these challenges, the future of its low-cost EV remains one of the most hotly debated topics in the industry.
Reference(s):
Tesla executives questioned Musk over $25K EV denial, sources say
cgtn.com
