US EditionTesla executives questioned Musk after he denied killing $25,000 EV project: Reuters
- In April 2024, Reuters reported that Tesla had canceled its planned $25,000 low-cost electric vehicle project, known as the Model 2, sparking industry-wide attention.
- This report contrasted with Elon Musk's denial on X, where he called Reuters' story false, causing confusion among senior Tesla executives who knew the project was halted.
- Tesla informed employees weeks earlier that the low-cost EV project was over as the company shifted focus toward self-driving robotaxis amid declining global sales and a dated lineup.
- Tesla’s stock dropped 6% following the report but recovered some losses after Musk’s denial, while executives remained concerned about the impact on investor trust and sales forecasts.
- Tesla has yet to release an affordable new model, and despite promises of more budget vehicles built on current platforms, the company continues to struggle to fulfill its low-cost EV commitment.
31 Articles
31 Articles
Times Live
ZawyaTesla executives questioned Musk after he denied killing $25,000 EV project
Some senior Tesla executives were alarmed last year when Elon Musk denied a Reuters report that the company had killed a planned all-new $25,000 (R447,545) EV that investors had expected to drive explosive vehicle sales growth, according to people familiar with the matter.
Tesla shareholders face staggering new hurdle after company enacts controversial policy: 'A formidable barrier'
Tesla raised the bar for shareholders to sue the company board or executives for breach of fiduciary duties. What's happening? The change took effect May 15 and requires an investor or group of investors to hold 3% of the electric vehicle maker's stock "to institute or maintain a derivative proceeding," CNBC reported. Tesla's market cap is $1.123 trillion, so a plaintiff would have to own shares worth $33.7 billion. "Obviously, for a company of …
Colorado Springs Gazette
Tesla executives questioned Musk after he denied killing $25,000 EV project, sources say
By Rachael Levy
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