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Tesla CEO Elon Musk accused Reuters of "lying" connected Friday aft nan outlet reported nan electrical conveyance behemoth is abandoning its long-touted plans to nutrient a budget-friendly starter car.
Citing 3 unnamed "sources familiar," Reuters reported that Tesla has scrapped its inaugural to rotation retired an inexpensive car for nan masses, purportedly called Model 2, that was expected to commencement astatine $25,000. The outlet said it had reviewed respective soul Tesla documents confirming nan project's demise.
Tesla CEO Elon Musk accused Reuters of "lying" connected Friday aft nan outlet published a study claiming Tesla has abandoned its scheme for an inexpensive entry-level vehicle. (REUTERS/Gonzalo Fuentes / Reuters Photos)
In guidance to nan report, Musk wrote connected X, "Reuters is lying (again)."
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Reuters added Musk's consequence to its article, and noted that "[h]e did not place immoderate circumstantial inaccuracies." The outlet besides pointed retired that Tesla's stock value fell by astir 5% pursuing its report.
| TSLA | TESLA INC. | 164.90 | -6.21 | -3.63% |
FOX Business has reached retired to Tesla for comment.
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Musk has teased for years that a lower-cost Tesla exemplary would beryllium coming, and has slashed costs connected existing models complete nan past twelvemonth amid a world value warfare for EVs arsenic nan manufacture competes to pull much budget-conscious consumers amid elevated liking rates.
New Tesla electrical vehicles capable nan car batch astatine nan Tesla unit location successful Smithtown, New York, connected July 5, 2023. (John Paraskevas/Newsday RM via Getty Images / Getty Images)
The price-cutting wars are peculiarly pronounced in nan Chinese EV market, wherever Tesla has a awesome beingness and home manufacturers are rolling retired models that unit for arsenic debased arsenic $10,000, per Reuters.
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Tesla's Model 3 is presently its astir affordable offering, starting astatine astir $39,000 successful nan U.S.
