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{"id":4639,"date":"2024-04-13T11:19:27","date_gmt":"2024-04-13T11:19:27","guid":{"rendered":"https:\/\/aitesonics.com\/tesla-is-reportedly-focusing-on-robotaxis-over-its-planned-budget-ev-190833687\/"},"modified":"2024-04-13T11:19:27","modified_gmt":"2024-04-13T11:19:27","slug":"tesla-is-reportedly-focusing-on-robotaxis-over-its-planned-budget-ev-190833687","status":"publish","type":"post","link":"https:\/\/aitesonics.com\/tesla-is-reportedly-focusing-on-robotaxis-over-its-planned-budget-ev-190833687\/","title":{"rendered":"Tesla is reportedly focusing on robotaxis over its planned budget EV"},"content":{"rendered":"

Tesla has scrapped plans to make an affordable electric vehicle (EV), according to<\/a> Reuters<\/em>. CEO Elon Musk said as recently as January that he was \u201coptimistic\u201d the low-cost EV would arrive in the second half of 2025<\/a>. The automaker will instead reportedly \u201cgo all in\u201d on robotaxis<\/a>, which Musk has described as the future of transportation.<\/p>\n

The canceled entry-level EV project \u2014often called \u201cModel 2\u201d \u2014 was reportedly codenamed \u201cRedwood.\u201d The automaker had predicted a weekly production volume of 10,000 vehicles<\/a>, and Musk said, \u201cWe\u2019ll be sleeping on the line\u201d to make it a reality. He had previously claimed Tesla was working on two new EV models expected to sell up to five million units annually.<\/p>\n

For nearly two decades, the CEO has described his long-term goal as using luxury vehicles to build Tesla\u2019s brand before using those profits to fund budget models. \u201cWhen someone buys the Tesla Roadster sports car, they are actually helping pay for development of the low cost family car,\u201d Musk wrote<\/a> in a 2006 \u201cSecret Tesla Motors Master Plan\u201d memo. In the following years, he often echoed those sentiments to customers and investors.<\/p>\n

The cancellation would leave the $39,000 and up Model 3 sedan<\/a> as Tesla\u2019s cheapest vehicle. The scrapped budget model was expected to start at around $25,000.<\/p>\n

Reuters<\/em>\u2019 sources told the outlet they were told about the cancellation in a late February meeting \u201cattended by scores of employees.\u201d The publication says it reviewed internal Tesla messages about the pivot, including one advising staff to hold off on telling suppliers \u201cabout program cancellation.\u201d Other messages allegedly told staffers that \u201csuppliers should halt all further activities related to H422\/NV91,\u201d referring to the budget model\u2019s external and internal codenames.<\/p>\n

Musk posted<\/a> on X (Twitter) on Friday, \u201cReuters<\/em> is lying (again)\u201d in response to the story \u2014 without listing any points of contention.<\/p>\n

Tesla has its work cut out for it. Not only has EV demand slowed<\/a> in the US, but competition in China is fierce, with the fast-growing BYD<\/a> leading the country\u2019s entry-level market. The Chinese automaker said<\/a> earlier this month that its sales increased 13 percent year over year. Meanwhile, Tesla said on Tuesday that its deliveries dropped eight percent annually while falling 20 percent from the previous quarter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"