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- cross-posted to:
- [email protected]
When Reuters reported in April that Tesla had scrapped plans for a long-promised, next-generation $25,000 electric vehicle, the automaker’s stock plunged. Chief Executive Elon Musk rushed to respond on X, his social-media network.
“Reuters is lying,” he posted, without elaborating. Tesla’s stock recovered some of its losses.
Six months later, Musk appears to have backed into an admission that Tesla dropped its plans for a human-driven $25,000 car. He said in an Oct. 23 earnings call that building the affordable EV would be "pointless” unless the car was fully autonomous.
Until we tax them ridiculously (50-100%) to keep things “fair” for the american auto makers that refuse to build anything smaller than a chevorlet suburban.
Along with European, Japanese, and South Korean automakers. Nobody is building EVs this cheap because no other country’s government is dumping hundreds of billions of dollars into selling them well below their actual cost.
Aww that’s so sad. It’s a shame nobody has the economic wealth and power to absolutely dominate the market if they put a equal amount of money into EVs. I guess we’ll just have to keep spending our money on the military
Those automakers are at least trying to compete by building small cars. I see more ads for electric f150s than i see for compact cars in north america.
The profit margins are insane compared to sedans.
Every fucking country subsidized their auto industry, it’s just that all the benefit goes directly to ceos except in china apparently.
Ford received 9 billion in June.