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@lemmy.world 51 points 2 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

[–] UltraGiGaGigantic@lemmy.ml 14 points 2 weeks ago

Just lobby to ban/tariff the competition. EZ

[–] Gingerlegs@lemmy.world 42 points 2 weeks ago

Ah, all electric but still gaslighting I see

[–] Breve@pawb.social 33 points 2 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@lemmy.world 14 points 2 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.

[–] SkaveRat@discuss.tchncs.de 2 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

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

[–] FlexibleToast@lemmy.world 1 points 2 weeks ago

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

[–] nickapos@twit.social 0 points 2 weeks ago (1 children)
[–] FlexibleToast@lemmy.world 6 points 2 weeks ago

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.

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

[–] TheFeatureCreature@lemmy.world 33 points 2 weeks ago (1 children)

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

[–] geneva_convenience@lemmy.ml 6 points 2 weeks ago (1 children)
[–] Elonkilledmymom@lemmy.ml 3 points 2 weeks ago

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

[–] HiddenLayer555@lemmy.ml 24 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

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

[–] TassieTosser@aussie.zone 6 points 2 weeks ago

$10,000 beta test

[–] smb@lemmy.ml 22 points 2 weeks ago

i'ld like this summary the most:

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

😁

[–] rolling_resistance@lemmy.world 18 points 2 weeks ago

Very tired of reading what Musk says.

[–] skozzii@lemmy.ca 13 points 2 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.

[–] theshatterstone54 13 points 2 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.

[–] n3m37h@sh.itjust.works 10 points 2 weeks ago

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

[–] Anticorp@lemmy.world 2 points 2 weeks ago

Musk says a lot of stupid things.

[–] humanspiral@lemmy.ca 1 points 2 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.