Musk Robotaxi Pump Tries to Mask Reuters' Scoop on Tesla's $25K Model Being Scrapped

Tesla's stock rose by 3.8% in the after hours; This move by Musk appears like extreme desperation, and if true, Tesla has no new models for a while

Apr 07, 2024

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On Friday, 90 minutes into the trading session, Reuters published a big scoop (with 4 sources) on Tesla abandoning the development of its $25,000 low-cost EV, the only new car Tesla has in its product pipeline.

This low-cost EV (referred to as the Model 2) was a highly anticipated new car because Tesla said it would have 50% lower production costs and s…

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