According to insiders, the US car manufacturer Tesla has buried its plan to build an inexpensive electric car for the mass market. Two people familiar with the plans told the news agency Reuters, they found out about the decision in a meeting with employees. Tesla boss Elon Musk’s instructions are now to rely entirely on robotaxis. The about-face comes at a time when Tesla faces fierce global competition from Chinese rivals, some of whom are flooding the market with cars costing as little as $10,000. Tesla did not initially respond to a request for comment. After the publication of the Reuters report, CEO Musk wrote on his short message platform X “Reuters is lying (again)” without elaborating further. The group’s shares fell by up to six percent on Friday after the Reuters report.
Tesla buries plans for cheap car – economy
