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Musk now says it's 'pointless' to build a $25,000 Tesla for human drivers (www.reuters.com)

submitted 3 weeks ago by [email protected] to c/[email protected]

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Nov 5 (Reuters) - When Reuters reported in April that Tesla had scrapped plans for a long-promised, next-generation $25,000 electric vehicle, the automaker’s stock plunged. Chief Executive Elon Musk rushed to respond on X, his social-media network.

“Reuters is lying,” he posted without elaborating. Tesla’s stock recovered some of its losses.

Six months later, Musk appears to have backed into an admission that Tesla dropped its plans for a human-driven $25,000 car. He said in an Oct. 23 earnings call that building the affordable EV would be "pointless” unless the car was fully autonomous.

His latest remarks came in response to an investor asking: “When can we expect Tesla to give us the $25,000 non-robotaxi regular car model?”

Musk responded: “We’re not making a non-robo…,” before he was interrupted by another Tesla executive. Musk later added: “Basically, I think having a regular $25K model is pointless. It would be silly.”

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[–] FlexibleToast 15 points 3 weeks ago (2 children)

He rolls out the same BS every time the stock needs to be pumped up. The good thing is, it didn't work this time. This unveil actually made the stock drop because they're so far behind.

[–] [email protected] 2 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

while it took a short hit, it was back up higher again shortly after sadly

[–] FlexibleToast 1 points 3 weeks ago

That followed an announcement for their battery business if I'm not mistaken. Which isn't what Musk was trying to pump.

[–] [email protected] 1 points 3 weeks ago (1 children)

@FlexibleToast @Breve now he is promising humanoid robots

[–] FlexibleToast 7 points 3 weeks ago (1 children)

I think that was a big reason why the stock took a hit. He keeps getting caught faking it, and even his fakes are decades behind Boston Dynamics.

[–] [email protected] 1 points 3 weeks ago

@FlexibleToast yeah also I think people started realising that he does really know what he is talking about and he is just scamming people. Tesla autopilot not working as promised and all the accidents have played a part in this.