Musk Says Reuters ‘Lying’ After It Reports Tesla Scrapped Low-Cost EV Project

Published on April 5, 2024

Tesla CEO and billionaire investor Elon Musk has denied reports published by Reuters that the electric car company has scrapped plans to develop new low-cost models. Reuters first reported on Friday, citing three unnamed officials “familiar with the matter” and alleged company messages, that Tesla had abandoned a multi-year goal to bring a line of entry-level vehicles to the market, known as the Tesla Model 2. Costs for this new line of Tesla cars would have reportedly started at about $25,000. Tesla’s current cheapest offering, the Model 3 sedan, currently goes for around $39,000. Reuters reported Tesla had dropped the Model 2 plans, opting instead to focus on developing self-driving robotaxis....

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