this post was submitted on 05 Nov 2024
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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.

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[–] Etterra@lemmy.world 3 points 1 hour ago

Well I guess he must know about some secret point to killing his own company.

[–] x00z@lemmy.world 16 points 5 hours ago

How can somebody just shout "they're lying" to get their stock back up and get away with it?

[–] Snapz@lemmy.world 10 points 7 hours ago

Expect shit they try to bury in the election news cycle

[–] Ulrich_the_Old@lemmy.ca 18 points 8 hours ago
[–] magnetosphere@fedia.io 41 points 12 hours ago (2 children)

Musk is a fascist bigot. I wouldn’t drive a Tesla if it was given to me for free. Just walking up to it and seeing that T would piss me off. In a way, I’m glad he refuses to build a cheap EV.

[–] Cocodapuf@lemmy.world 6 points 8 hours ago* (last edited 8 hours ago) (1 children)

Oh, Musk is way too powerful and totally nuts, he's gone off the deep end. Also he's gone full asshole, there's hardly anything redeemable about him these days.

That said, I'd drive any car that was given to me for free, and I won't pretend otherwise.

Also, despite Musk, Tesla has done amazing things for the auto industry, I'm extremely pleased to see this shift to EVs across the board.

[–] magnetosphere@fedia.io 6 points 6 hours ago

Oh, I’d take a free car; but instead of driving it I’d turn around and sell it immediately. Then I’d buy something that wasn’t a badge of shame.

[–] leftytighty@slrpnk.net 8 points 10 hours ago

it's easier to raise tariffs so that efficiently produced foreign electric cars are just as expensive. God bless America

[–] FlyingSquid@lemmy.world 125 points 16 hours ago

"We can't make an affordable Tesla unless we come up with something that would make it too expensive."

Gotcha.

I'm guessing that to him, the only market for the car will be for deliveries. Fleet use. He isn't interested in consumer sales.

[–] ChowJeeBai@lemmy.world 78 points 16 hours ago (2 children)
[–] FireRetardant@lemmy.world 63 points 15 hours ago (2 children)

Until we tax them ridiculously (50-100%) to keep things "fair" for the american auto makers that refuse to build anything smaller than a chevorlet suburban.

This is why hes suddenly against it, theres no way Chinese EVs are coming stateside, and the US is even leveraging Mexico to keep them out of Mexico too. He doesn't want to make the smaller profit margin thing everyone wants, because the government is just going to ban what everyone wants instead.

[–] CmdrShepard42@lemm.ee 10 points 13 hours ago (4 children)

Along with European, Japanese, and South Korean automakers. Nobody is building EVs this cheap because no other country's government is dumping hundreds of billions of dollars into selling them well below their actual cost.

[–] Traister101@lemmy.today 25 points 13 hours ago (3 children)

Aww that's so sad. It's a shame nobody has the economic wealth and power to absolutely dominate the market if they put a equal amount of money into EVs. I guess we'll just have to keep spending our money on the military

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[–] BakerBagel@midwest.social 11 points 12 hours ago (3 children)

Correct, because Uncle Sam is spending hundreds of billions of dollars to make oil and gas as cheap as possible while automakers spend bullions every year on stock buybacks. America's poor investments are all China's fault.

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[–] FireRetardant@lemmy.world 14 points 13 hours ago (6 children)

Those automakers are at least trying to compete by building small cars. I see more ads for electric f150s than i see for compact cars in north america.

[–] Mbourgon@lemmy.world 8 points 13 hours ago

The profit margins are insane compared to sedans.

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[–] Grimy@lemmy.world 10 points 13 hours ago* (last edited 13 hours ago) (5 children)

Every country subsidized their auto industry, it's just that all the benefit goes directly to ceos except in china apparently.

Ford received 9 billion in June.

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[–] SendMePhotos@lemmy.world 35 points 15 hours ago (21 children)

I so badly just want a tiny electric vehicle. I don't travel much. Just need it to go around town and maybe a town over.

[–] PrincessLeiasCat@sh.itjust.works 12 points 14 hours ago (1 children)

Chevy Bolt? My coworker has one and loves it.

[–] SendMePhotos@lemmy.world 1 points 7 hours ago (1 children)

Was looking at it but that's like the $30k range, no? I can't afford a 500/mo payment.

[–] ripcord@lemmy.world 1 points 4 hours ago (1 children)

Get a couple year old one then.

If you're on a budget why would you be looking at brand new cars?

[–] SendMePhotos@lemmy.world 1 points 3 hours ago

China cars are like 3k-5k. I can afford that. Like even one of the China trucks is like 6k-7k or something. I don't mind getting used, I just don't want to spend 30k. Or really even above 10k.

[–] SeaJ@lemm.ee 6 points 13 hours ago

A used Bolt is pretty cheap.

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[–] adarza@lemmy.ca 21 points 13 hours ago

he's still building the car. it's just the price will be double or more.

[–] Gerudo@lemm.ee 9 points 12 hours ago

They still don't have fully autonomous 100k cars!

[–] PortoPeople@lemm.ee 13 points 15 hours ago (1 children)
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