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.
About the author
History Says the Nasdaq Will Surge in 2025. 1 Stock-Split Stock to Buy Before It Does.
The Nasdaq Composite has been on fire over the past couple of years, driven higher by the advent of artificial intelligence (AI), improving economic conditions, an uncontested election, and the Federal Reserve Bank's recent moves to cut interest rates. After returning 43% in 2023, the tech-centric index is up roughly 30% in 2024. History suggests the rally will likely continue into 2025. The current bull market began on Oct. 12, 2022, and while every rally is different, history can provide important context. Bull markets last more than five years, on average. Since the current rally just entered its third year, there's a strong likelihood the Nasdaq will continue to gain ground next year. It's also worth noting that the Nasdaq has generated gains 73% of the time, dating back 53 years, so history is on the side of investors. Finally, […]
Yellow Moto closing today, its owners moved on to Spain
Beloved Yellow Moto Pizzeria at 18th and Valencia streets is having its last day of service today, after five years at the corner.“I’m heartbroken, really,” said Allison White, 40, wife of Yellow Moto owner David White. “It always felt like an extension of my home, and it’s going to be hard to say goodbye.” Allison and David’s kids used to hang out in the back of Valencia Street Vintage, a small business right next door to Yellow Moto that Allison owns. In earlier press interviews and on Friday, White and her husband David, said that business has slowed. But other factors played into their decision.The family that used to live four blocks away at 14th and Guerrero streets moved across the ocean to Valencia, Spain in August.“We did it for our kids. We have three kids — 8, 11 and 12,” […]
Ukraine’s secret weapon in its battle against Russia: crowdfunding
On April 27, 2023, Diana Kulyk's father told her he was leaving the next day to start training to fight Russia. She was filled with dread but knew she needed to act. Her hands shaking, Kulyk, a 24-year-old only child, tried to type the perfect tweet that would convince her roughly 20,000 followers to donate more than $3,000 for equipment that would help keep her father alive."Hello, this is the most important tweet I have ever written," she began. "I'm Diana Kulyk, daughter of Ruslan Kulyk. My father is a simple man, a baker by profession, a human being full of love and care. The person who took care of me since I came into this world. He needs help." Beneath the text were two images: a selfie of Diana and Ruslan smiling under golden-hour sunlight, and a spreadsheet of […]
Born and raised
Born and raised Source: missionlocal.org
Syrians Pose Next to Head of Toppled Statue of Hafez al-Assad in Hama
The head of a toppled statue of former Syrian president Hafez al-Assad was seen on the ground of a square in the city of Hama on Friday, December 6, after opposition forces took control of the city.Footage captured by Obada Jbara shows two boys holding Syrian opposition flags, as one of them steps on the head of the statue of Hafez al-Assad – father of the current Syrian regime president, Bashar al-Assad – in Hama’s Assi Square.Footage shared by several news outlets on Thursday reportedly shows people toppling a statue of al-Assad in Hama. Credit: Obada Jbara via Storyful Source: www.yahoo.com
Planning Commission advances Mission anti-displacement plan
Read Mission Local often?If so, consider supporting us — San Francisco’s premier independent, nonprofit newsroom — during end-of-year fundraising. We’re almost at our $200,000 goal! The San Francisco Planning Commission on Thursday voted unanimously to endorse the Mission Action Plan 2030 — an updated version of the city’s existing plan to fight displacement in one of the neighborhoods hardest hit by gentrification.The plan, said Miriam Chion, the director of community equity at the planning department, “becomes the compass for city strategies, program legislation and investments.” The new plan largely maintains the city’s current priorities for the Mission — “secure funding at all levels” to build affordable housing, strengthen tenant protections for “vulnerable Mission Latino residents,” protect businesses and nonprofits in the area, and “preserve and promote cultural resources” across the neighborhood. But, in a nod to changing post-pandemic conditions along the Mission’s […]
Related
History Says the Nasdaq Will Surge in 2025. 1 Stock-Split Stock to Buy Before It Does.
The Nasdaq Composite has been on fire over the past couple of years, driven higher by the advent of artificial intelligence (AI), improving economic conditions, an uncontested election, and the Federal Reserve Bank's recent moves to cut interest rates. After returning 43% in 2023, the tech-centric index is up roughly 30% in 2024. History suggests the rally will likely continue into 2025. The current bull market began on Oct. 12, 2022, and while every rally is different, history can provide important context. Bull markets last more than five years, on average. Since the current rally just entered its third year, there's a strong likelihood the Nasdaq will continue to gain ground next year. It's also worth noting that the Nasdaq has generated gains 73% of the time, dating back 53 years, so history is on the side of investors. Finally, […]
Ukraine’s secret weapon in its battle against Russia: crowdfunding
On April 27, 2023, Diana Kulyk's father told her he was leaving the next day to start training to fight Russia. She was filled with dread but knew she needed to act. Her hands shaking, Kulyk, a 24-year-old only child, tried to type the perfect tweet that would convince her roughly 20,000 followers to donate more than $3,000 for equipment that would help keep her father alive."Hello, this is the most important tweet I have ever written," she began. "I'm Diana Kulyk, daughter of Ruslan Kulyk. My father is a simple man, a baker by profession, a human being full of love and care. The person who took care of me since I came into this world. He needs help." Beneath the text were two images: a selfie of Diana and Ruslan smiling under golden-hour sunlight, and a spreadsheet of […]
Syrians Pose Next to Head of Toppled Statue of Hafez al-Assad in Hama
The head of a toppled statue of former Syrian president Hafez al-Assad was seen on the ground of a square in the city of Hama on Friday, December 6, after opposition forces took control of the city.Footage captured by Obada Jbara shows two boys holding Syrian opposition flags, as one of them steps on the head of the statue of Hafez al-Assad – father of the current Syrian regime president, Bashar al-Assad – in Hama’s Assi Square.Footage shared by several news outlets on Thursday reportedly shows people toppling a statue of al-Assad in Hama. Credit: Obada Jbara via Storyful Source: www.yahoo.com
Thirteen children dead in Mexico due to suspected IV bag contamination
At least 13 children have died in Mexican medical centres due to suspected IV bag contamination, health officials said on Thursday.The exact source of the infections is still under investigation.The children, all under the age of 14, died across three public facilities and one private clinic in Mexico from a blood infection linked to a possible outbreak of Klebsiella oxytoca, a multidrug-resistant bacteria, which was reportedly first detected in November.Of 20 possible cases, the bacteria was ruled out in one case, suspected in four and confirmed in 15 cases. Of the 19 patients, 13 died and the six others are being treated at hospitals, the Associated Press reported.The health ministry in a statement said: "Ongoing analyses are seeking to identify the source of the outbreak and monitoring is being maintained to rule out possible outbreaks in other entities."Mexico's president Claudia […]
US Supreme Court’s Gorsuch steps away from case after recusal request
By John Kruzel and Andrew ChungWASHINGTON (Reuters) - U.S. Supreme Court Justice Neil Gorsuch will not participate in an environmental case to be argued next week involving a proposed railway in Utah, the court said on Wednesday, a move that followed a call by some Democratic lawmakers for him to recuse over a possible conflict of interest.The one-paragraph announcement made public by a court official came in a letter addressed to lawyers in the case due to be argued next Tuesday. The other eight justices will hear and decide the case.Trusted news and daily delights, right in your inboxSee for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories.Gorsuch decided to withdraw from participating in the case consistent with the code of conduct adopted by the court last year, the statement said, but provided […]
Full rollout of eVisas set to be postponed after foreign worker warning
The Home Office is set to postpone the rollout of eVisas after problems with the scheme.It comes after human rights campaigners warned that hundreds of thousands of people who have the right to live and work in Britain may not be able to access their new eVisas and prove their immigration status.The Government was due to replace physical biometric residence permits (BRP), which show proof of the right to live, work and claim benefits in Britain, with digital eVisas from the December 31. The proposals were first announced in April, under the previous Tory administration, as a way to “ensure firm control over who comes here to live, work or study, strengthening border security and preventing abuse of the immigration system”.But there has been multiple complaints from applicants who have failed to gain access to the new digital system, sparking […]
