Background

Musk now says it’s ‘pointless’ to build a $25,000 Tesla for human drivers

Article arrow_drop_down


By Chris Kirkham

(Reuters) – When Reuters reported in April that Tesla (TSLA) 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.”

The April 5 Reuters article reported that Tesla had abandoned plans for an all-new, affordable mass-market EV but still planned a self-driving robotaxi. Since then, Musk has increasingly touted plans for robotaxis and autonomous vehicles.

Tesla and Musk did not respond to requests for comment for this story.

On the October earnings call, Musk said that Tesla does plan a “$25K car” – its “Cybercab,” a two-door, two-seat, fully autonomous vehicle. Musk unveiled a prototype at a Hollywood-style event on Oct. 10.

Musk says Tesla will start production of the Cybercab in 2026, after it deploys fully autonomous versions of its current Model 3 and Model Y vehicles in Texas and California next year. The automaker faces steep technological, regulatory and legal challenges in delivering on Musk’s latest promises of fully autonomous vehicles, which echo others dating back about a decade.

An all-new affordable Tesla for human drivers had until recently been a linchpin of Tesla’s strategy to become the world’s biggest automaker. For several years, Tesla had a goal of producing 20 million vehicles a year by 2030, more than tenfold what it sells now and nearly double that of Toyota, the current global sales leader. In May, Tesla dropped the 20-million goal from its latest “impact report” on progress toward sustainability goals.

As recently as January of this year, Musk confirmed the plan for an all-new affordable EV in an earnings call. He said the next-generation vehicle would arrive in 2025 and launch a second major “growth wave,” following the first wave with the release of its Model 3 and Model Y vehicles in 2017 and 2020, respectively.



Source: finance.yahoo.com

About the author

trending_flat
Mission Local bags two Society of Professional Journalists awards

This here publication last week took home two more awards from the Northern California branch of the Society of Professional Journalists for in-depth coverage and analysis of the sort you expect — and demand — of us. Senior editor Joe Rivano Barros and former data reporter Will Jarrett were honored in the “Explanatory Journalism” category for the mammoth effort of tracing and documenting the Russian dolls-like series of interconnected organizations funneling billionaires’ dollars into San Francisco politics. Joe Rivano Barros, who with Will Jarrett won for the Big Money SF work. Photo by Abigail Van NeelyThe series, titled “BigMoneySF,” included Rivano Barros’ profile of Neighbors for a Better San Francisco, the largest donor over the last several election cycles, and Jarrett’s interactive chart, a stunning accomplishment requiring months of work unearthing reams of financial data structured in a manner so as to render it […]

trending_flat
US airline flight crews confident and angry as unions seek richer contracts

By Rajesh Kumar Singh CHICAGO (Reuters) - Alaska Airlines flight attendant Rebecca Owens works 10 hours a day but only gets paid for half that time - a legacy of a common U.S. airline policy to pay cabin crew members only when planes are in motion. Owens, and thousands of cabin crew like her, wants that to change. In August, 68% of Alaska flight attendants in a ratification vote rejected a contract that would have increased average pay by 32% over three years. It was also the first labor agreement that would have legally required airlines to start the clock for paying flight attendants when passengers are boarding, not when the flight starts to taxi down the runway. Delta Air Lines, the only major U.S. airline whose flight attendants are not in a union, instituted boarding pay for its flight […]

trending_flat
Easy Caramel Apple Cider Mimosas

  Sweet, tart and bubbly, this recipe for Caramel Apple Cider Mimosas is a perfectly refreshing cocktail for your next fall party, Thanksgiving brunch, or holiday gathering!  A traditional mimosa is only two ingredients: orange juice and champagne (or sparkling wine). But since this recipe is inspired by warm autumn flavors, apple cider replaces orange juice and we’re adding a splash of caramel flavored whiskey. If you can’t find a caramel flavored whiskey, we have some substitutions below in the ‘Tips’ section below. The Ingredients Champagne (Or other sparkling wine like cava or prosecco) Apple cider (not a apple juice) Caramel flavored whiskey Fresh apple slices (honey crisp or granny smith are both delicious!) How to Make the Mimosas These mimosas are easy to make!  Simply add 2 ounces of apple cider to your champagne glass with .5 ounces (equal to […]

trending_flat
‘Slow Streets, Fast Friends’ mural comes to 20th St. in the Mission

Sign up below to get Mission Local’s free newsletter, a daily digest of news you won’t find elsewhere. Josue Rojas hovers in the air above the ground, gingerly balancing his stomach on a stool while holding his paintbrush in one hand, face towards the asphalt. He says it’s better than being on all fours. “It’s particularly brutal work,” says Rojas. “I’m on my knees six to eight hours a day and, now that I’m in my mid-40s, it’s not that easy to bear.” Rojas has spent the past week working between bursts of rain to create a street mural on 20th and Florida streets for the “Slow Streets, Fast Friends” project of the SF Parks Alliance nonprofit, which commissions murals on slow streets throughout the city.The mural was finished this past weekend, and now adorns the block where Atlas Cafe, the Southern […]

trending_flat
Speaker Johnson says transgender women won’t be allowed to use women’s restrooms in Capitol

House Speaker Mike Johnson said transgender women cannot use women's restrooms in the Capitol and House office buildings. This also applies to changing rooms and locker rooms, Johnson said."All single-sex facilities in the Capitol and House Office Buildings — such as restrooms, changing rooms, and locker rooms — are reserved for individuals of that biological sex," the statement said Wednesday.Johnson continued, "It is important to note that each Member office has its own private restroom, and unisex restrooms are available throughout the Capitol."After winning her election earlier this month to be Delaware's sole representative in the House, Rep.-elect Sarah McBride will be the first openly trans member of Congress.McBride responded to Johnson Wednesday by saying, "I’m not here to fight about bathrooms. I’m here to fight for Delawareans and to bring down costs facing families. Like all members, I will […]

trending_flat
Maple Vanilla Pumpkin Pie – Better Living

Better Living uses affiliate links. If you make a purchase through them, we may receive a small commission (for which we are deeply grateful) at no cost to you.   Looking for a pumpkin pie recipe with a little pizzazz this holiday season? Give this Maple Vanilla Pumpkin Pie recipe a try!  This wonderful pumpkin pie has hints of maple, vanilla, and warm spices all within a rich custard-like pumpkin filling. It’s the ultimate pumpkin pie for your holiday table and we’re sure you’ll want to make this a yearly tradition This Vanilla Maple Pumpkin Pie recipe is intended for one 9-inch prepared pie crust. To save time a store-bought crust is your pie-making friend. If you would like to make your own pie crust, try this highly rated Butter Flaky Pie Crust or use your own family favorite recipe. […]

Related

trending_flat
US airline flight crews confident and angry as unions seek richer contracts

By Rajesh Kumar Singh CHICAGO (Reuters) - Alaska Airlines flight attendant Rebecca Owens works 10 hours a day but only gets paid for half that time - a legacy of a common U.S. airline policy to pay cabin crew members only when planes are in motion. Owens, and thousands of cabin crew like her, wants that to change. In August, 68% of Alaska flight attendants in a ratification vote rejected a contract that would have increased average pay by 32% over three years. It was also the first labor agreement that would have legally required airlines to start the clock for paying flight attendants when passengers are boarding, not when the flight starts to taxi down the runway. Delta Air Lines, the only major U.S. airline whose flight attendants are not in a union, instituted boarding pay for its flight […]

trending_flat
Speaker Johnson says transgender women won’t be allowed to use women’s restrooms in Capitol

House Speaker Mike Johnson said transgender women cannot use women's restrooms in the Capitol and House office buildings. This also applies to changing rooms and locker rooms, Johnson said."All single-sex facilities in the Capitol and House Office Buildings — such as restrooms, changing rooms, and locker rooms — are reserved for individuals of that biological sex," the statement said Wednesday.Johnson continued, "It is important to note that each Member office has its own private restroom, and unisex restrooms are available throughout the Capitol."After winning her election earlier this month to be Delaware's sole representative in the House, Rep.-elect Sarah McBride will be the first openly trans member of Congress.McBride responded to Johnson Wednesday by saying, "I’m not here to fight about bathrooms. I’m here to fight for Delawareans and to bring down costs facing families. Like all members, I will […]

trending_flat
Airbus CEO says Spirit Aero talks going well but industrial challenges lie ahead

By Tim Hepher BRUSSELS (Reuters) - The head of European planemaker Airbus said talks to finalise the takeover of part of troubled U.S. aerostructures supplier Spirit Aerosystems were going smoothly but that bringing it into Airbus would "not be a walk in the park". Airbus plans to take over the running of four Spirit plants associated with its A350 and A220 jetliner programmes as part of a loosely coordinated plan to carve up the company with Boeing, which is buying back almost all the rest of its former unit. The rare act of cooperation between business foes reflects concerns that the rapid decline of one of the industry's key suppliers, spun off from Boeing almost 20 years ago, could have spread havoc through the world's largest planemakers. Because the plants lose money, Spirit has agreed to pay $559 million to […]

trending_flat
Five common bad weather injuries

Cold and wintry conditions are sweeping across the UK now, with several yellow weather warnings in place for snow and ice in parts of England, Wales and Scotland.During adverse weather conditions, accidents are more likely to happen and we become more vulnerable to injuries. The UK Health Security Agency (UKHSA) issued its first amber cold health alert of the season, warning that the weather is likely to "cause significant impacts across health and social care services".Dr Agostinho Sousa, head of extreme events and health protection at the UKHSA, said: "It is vital to check in on vulnerable friends, family and neighbours to ensure they are well prepared for the onset of cold weather. Particularly if they are elderly or otherwise at increased risk."The Met Office is warning of "a chance of injuries from slips and falls on icy surfaces", as […]

Be the first to leave a comment

Leave a comment

Your email address will not be published. Required fields are marked *

About Karl The Fog

Welcome to Karl The Fog, your digital gateway to the enigmatic world of San Francisco’s legendary mist. We are the storytellers, the observers, and the chroniclers of the ever-elusive, charismatic character known as Karl.

KARL THE FOG, and KARL THE FOG COFFEE logos, images, fonts, names, and other trademarks are trademarks of KARL THE FOG, LLC and may not be used without permission.

Login to enjoy full advantages

Please login or subscribe to continue.

Go Premium!

Enjoy the full advantage of the premium access.

Stop following

Unfollow Cancel

Cancel subscription

Are you sure you want to cancel your subscription? You will lose your Premium access and stored playlists.

Go back Confirm cancellation