Exclusive: Tesla scraps long-promised low-cost car plans that investors have been counting on to drive its growth into a mass-market automaker ..amid fierce Chinese EV competition
Entry-level Tesla car won’t be built, three sources tell Reuters
• Tesla to focus on self-driving taxis instead, sources said
• Strategy shift comes as Tesla faces competition from China EV makers including BYD
@shansterable@GottaLaff which is such a shame, since they used to be fine vehicles, but Elmo has really sent them down a terrible path, where quality assurance just isn’t happening. Instead, his power and wealth is being used to hush up problems, as well as creating fear within the facilities.
@GottaLaff how's this for a Tesla death spiral:
>Tesla, already late in producing the Cybertruck is years away from delivering on orders - buyers could pull their deposits.
>EV sales in general are projected to decline.
>Of the EV sales that might occur, Telsa favorability is in decline (https://www.reuters.com/business/autos-transportation/would-be-tesla-buyers-snub-company-musks-reputation-dips-2024-04-01/)
>Tesla is raising prices on existing models as their favorability is in decline.
>And Musk is capable of yet more boneheaded actions.
>Tesla IUDs face branding issues too😆
@GottaLaff I give my vote in support of them trying to build self driving taxis, and at a higher price! Everyone loves expensive taxi rides that periodically kill people. Go all in on this, Musky-Boy!
@GottaLaff Nikola Tesla died poor and obscurity. He was brilliant but not business-wise. So it's a great name choice. However, Musk is not brilliant. Far from it. And he shows that so well. He just has money. He's showing the same business mastery as another very well known“businessman” with bad hair, currently tied up in court.
@GottaLaff
haha reuters absolutely destroying musk with this paragraph 😂
"Tesla did not respond to requests for comment. After the story was published, Musk posted on his social media site X that "Reuters is lying (again)." He did not identify any specific inaccuracies"
@davidh “Despite this denial from Musk, Reuters cites Tesla's own internal company messages halting the project.
In one case, a Tesla program manager told staff that "suppliers should halt all further activities related to H422/NV91," referring to codenames for the project, Reuters reported.
Two sources also told Reuters that the decision to scrap the affordable Tesla, sometimes known as the Model 2, was announced in a meeting attended by "scores of employees."”
@ShutterbugDoug “Despite this denial from Musk, Reuters cites Tesla's own internal company messages halting the project.
In one case, a Tesla program manager told staff that "suppliers should halt all further activities related to H422/NV91," referring to codenames for the project, Reuters reported.
Two sources also told Reuters that the decision to scrap the affordable Tesla, sometimes known as the Model 2, was announced in a meeting attended by "scores of employees."”
@GottaLaff Decades from now when they remake Peggy Sue Got Married, Peggy Sue will go back in time and laugh derisively at her parents: You bought a Tesla.
Elmo made Tesla a success ONLY because it was, at the time, the only EV maker about. In the face of brutal competition Elmo's myriad shortcomings are really beginning to show.
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