this post was submitted on 05 Nov 2024
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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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[–] psmgx 51 points 3 weeks ago (2 children)

Translated: the Chinese won that battle, and TSLA doesn't have enough R&D to chase self-driving and cheap, esp. given how unimpressive their self driving is compared to competitors

[–] [email protected] 14 points 3 weeks ago

Just lobby to ban/tariff the competition. EZ

[–] Gingerlegs 43 points 3 weeks ago

Ah, all electric but still gaslighting I see

[–] TheFeatureCreature 33 points 3 weeks ago (1 children)

Reminder to never believe a damn word that comes out of this man's mouth. https://motherfrunker.ca/fsd/

[–] [email protected] 6 points 3 weeks ago (1 children)
[–] [email protected] 3 points 3 weeks ago

It gets boring saying the same thing over and over year after year

[–] [email protected] 30 points 3 weeks ago (2 children)

Just going to leave this here with proof that Elmo said cars would be fully driving themselves by 2018: https://www.consumerreports.org/cars/autonomous-driving/timeline-of-tesla-self-driving-aspirations-a9686689375/

[–] 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 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.

[–] [email protected] 2 points 3 weeks ago

Just another 2 years bro we're so close we're almost there it's in beta bro trust me it's almost there

[–] [email protected] 22 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

"Bro full self driving is 5 years away bro trust me bro"

[–] [email protected] 5 points 3 weeks ago

$10,000 beta test

[–] [email protected] 21 points 3 weeks ago

i'ld like this summary the most:

Musk now says it's 'pointless' to build a Tesla

😁

[–] rolling_resistance 19 points 3 weeks ago

Very tired of reading what Musk says.

[–] [email protected] 13 points 3 weeks ago

Tesla stock is by far the most overvalued stock in the world, and its not even close.

The only thing close to it is the worthless djt stock that dictators use to funnel money to fund the poisoning of our democracy.

[–] [email protected] 13 points 3 weeks ago

Right, so that was his plan all along?

Keep on promising a full self driving experience, which even now won't really happen,

and then promising an affordable Tesla,

which he can then backtrack on?

Overpromise and underdeliver.

That's the Musk motto.

Can't wait to see him fail to bring humanity to Mars, and end up trying to credit himself when NASA do it.

[–] [email protected] 11 points 3 weeks ago

Musk, it's pointless listening to your bullshit, now SHUT THE FUCK UP!

[–] Anticorp 2 points 3 weeks ago

Musk says a lot of stupid things.

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

It's a weird design for a robotaxi specific car. I guess it can be cheap as a 2 seater. But other manufacturers are investing in the robotics needed for low cost cars. The aero dynamics aren't typically helpful for taxis. I understand he will try to milk existing models until FSD instead of innovating on them.