{"id":2214037,"date":"2024-04-05T17:50:02","date_gmt":"2024-04-05T21:50:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/musk-denies-report-hes-abandoning-masses-with-tesla-plan-to-scrap-affordable-line-of-evs\/"},"modified":"2024-04-05T17:57:05","modified_gmt":"2024-04-05T21:57:05","slug":"musk-denies-report-hes-abandoning-masses-with-tesla-plan-to-scrap-affordable-line-of-evs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/musk-denies-report-hes-abandoning-masses-with-tesla-plan-to-scrap-affordable-line-of-evs\/","title":{"rendered":"Musk refutes claims of abandoning the masses with Tesla&#8217;s decision to discontinue affordable EVs"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmusk-denies-report-hes-abandoning-masses-with-tesla-plan-to-scrap-affordable-line-of-evs%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2214037&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Elon Musk, the\u200b CEO \u200bof Tesla, has criticized\u2064 a report alleging that Tesla has abandoned plans for its affordable family car to focus on self-driving taxis. This shift in strategy\u200d could disappoint investors hoping for Tesla to become a mass-market \u2062automaker. Musk&#8217;s\u2062 vision \u200cincluded making affordable\u200c cars after selling luxury vehicles to fund \u200dthem. Elon Musk, Tesla&#8217;s CEO, has denounced a\u200d report claiming Tesla shelved its \u200caffordable family car project in favor of self-driving taxis. This change may unsettle investors anticipating Tesla&#8217;s transition to a mass-market automaker. Musk&#8217;s original plan involved selling luxury cars first to finance \u200baffordable vehicles for the masses.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/tesla\/\">Tesla CEO<\/a> Elon Musk blasted a <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/tesla-scraps-low-cost-car-plans-amid-fierce-chinese-ev-competition-2024-04-05\/\" target=\"_blank\" rel=\"noopener\" title>report<\/a> on Friday that his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/left-wing-media-watchdog-defends-jennifer-granholms-wealth-after-helping-her-become-a-millionaire\/\" title=\"Left-Wing Media Watchdog Defends Jennifer Granholm\u2019s Wealth After Helping Her Become a Millionaire\">electric vehicle company<\/a> has abandoned efforts to manufacture its \u201clow cost family car\u201d and instead shifted focus on developing its self-driving taxi.<\/p>\n<p>Tesla\u2019s reported axing of the inexpensive car could put a damper on investors\u2019 plans to see the company become a mass-market <a href=\"https:\/\/www.washingtonexaminer.com\/advanced-search?algoSearch=automaker\" target=\"_blank\" rel=\"noopener\" title>automaker<\/a>. <\/p>\n<p>Since 2006, Musk has <a href=\"https:\/\/www.tesla.com\/blog\/secret-tesla-motors-master-plan-just-between-you-and-me\" target=\"_blank\" rel=\"noopener\" title>envisioned<\/a> creating an affordable car for the masses, but he first would sell luxury vehicles and use the profits to finance the more <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/starter-cars-are-still-out-there-if-you-put-your-luxury-expectations-in-park\/\" title=\"Affordable cars exist if you lower your luxury standards.\">affordable cars<\/a>. <\/p>\n<p>Musk had a terse response to the report, <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1776272471324606778\" target=\"_blank\" rel=\"noopener\" title>posting<\/a> on his X platform, \u201c<em>Reuters<\/em> is lying (again).\u201d<\/p>\n<p>Two sources told <em>Reuters<\/em> the decision to end development for the Model 2 was revealed during a meeting in late February, with the company now shifting focus to the robotaxi.\u00a0A March 1 company message from a project manager advised engineering staff to hold off on telling suppliers about the \u201cprogram cancellation.\u201d<\/p>\n<p>Another March 1 message from a different manager thanked engineers for all of their hard work. <\/p>\n<p>\u201cI\u2019d like to thank everyone for all your hard work and dedication to pushing boundaries and executing the best design possible given the aggressive constraints we had to work within,\u201d the message said. \u201cWe would not want all our hard work to go to waste, so it\u2019s important that we tie things off and document things properly.\u201d<\/p>\n<p>Just in January, Musk told investors his plan to build the affordable models beginning in the second half of 2025, with the hopes of selling the Model 2 at $25,000.\u00a0Tesla\u2019s cheapest vehicle, the Model 3, retails at $39,000.<\/p>\n<p>Tesla\u2019s reported scrapping of the Model 2 comes as\u00a0Chinese car manufacturers such as BYD pose strong competition after\u00a0having developed an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/volkswagen-not-planning-new-combustion-engine-golf-automobilwoche\/\" title=\"Volkswagen not planning new combustion engine Golf \u2013 Automobilwoche\">electric vehicle priced<\/a> at $10,000 \u2014 $15,000 below the Model 2\u2019s price. BYD sales in China have soared from 130,000 to more than $1.5 million. <\/p>\n<p>The\u00a0Chinese automaker seeks to export the electric vehicles to America and retail it at double the price, which would still make it more affordable than Tesla. <\/p>\n<p><a href=\"http:\/\/washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><strong>CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/strong><\/a><\/p>\n<p>BYD reported a 13% year-over-year gain, while Tesla reported an 8% drop in deliveries this week. Since last July, Tesla shares have dropped by more than 40%, equal to a loss of $400 billion in market value. However, the company\u2019s market share of $545 billion is higher than the combined worth of the next three most valuable carmakers: Toyota, Porsche, and Mercedes-Benz.<\/p>\n<p>With the company shifting gears toward its self-driving taxi, the company has been faced with several lawsuits and investigations into crashes involved with its Autopilot and full self-driving driver assistance systems. <\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk, Tesla&#8217;s CEO, criticized a report on Friday claiming the company is no longer pursuing its &#8220;low cost family car&#8221; but emphasizing self-driving taxis. If true, Tesla&#8217;s alleged move away from affordable vehicles might disappoint investors hoping for its transition into a mass-market automaker<\/p>\n","protected":false},"author":2542,"featured_media":2214039,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/03\/AP24073475865969-1024x704.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2214037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/03\/AP24073475865969-1024x704.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2214037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2542"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2214037"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2214037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2214039"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2214037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2214037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2214037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}