Reuters exclusively reported that Tesla has canceled the long-promised inexpensive car that investors have been counting on to drive its growth into a mass-market automaker, but the automaker will continue developing self-driving robotaxis on the same small-vehicle platform.
Automotive
Tesla scraps low-cost car plans amid fierce Chinese EV competition
06 April 2024, 12:02 pm 1 minute
Market Impact
The decision represents an abandonment of a longstanding goal that Tesla chief Elon Musk has often characterized as its primary mission: affordable electric cars for the masses.
Article Tags
Topics of Interest: Automotive
Type: Reuters Best
Sectors: Transport & Logistics
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
