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Exclusive: Tesla executives questioned Musk after he denied killing $25,000 EV project, sources say (www.reuters.com)

submitted 3 days ago by HellsBelle to c/[email protected]

15 comments fedilink hide all child comments

Some senior Tesla executives were alarmed last year when Elon Musk denied a Reuters report that the company had killed a planned all-new $25,000 EV that investors had expected to drive explosive vehicle sales growth, according to people familiar with the matter.

“Reuters is lying,” Musk had posted on X, minutes after the story published on April 5, 2024, halting a 6% decline in Tesla’s stock. Tesla shares recovered some of the loss after Musk's post, but the stock was down 3.6% at market close.

The executives knew that Musk had, in fact, canceled the low-cost vehicle, which many investors called the Model 2, and pivoted Tesla to focus on self-driving robotaxis, the people said. The company had told employees the project was over weeks earlier, Reuters reported, citing three sources and company documents.

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[–] Skiluros 0 points 1 day ago

Is there some truth to what Tesla responded with? Very likely.

Where is the proof? Why didn't Tesla sue Reuters if they are lying?

Factually speaking, it was considered not true, but he also didn’t fight it as they were threatening the existence of the company at a very difficult time so he settled with the SEC.

Conspiracy theory bullshit. Where is the proof?

I bring it up because it’s the same new manufacturing process as the 25k car. It’s a wholly new way to manufacture cars

Where is the proof other than corporate PR? Send me a BOM analysis based on current estimates (with details) and other relevant financial details. This is not a big ask, there are solid BOM analyses for many "leading edge" hardware products (I've done professional work on this, so I would know).

The point I am making is that I am not buying your "judicial roleplay" (pretending that this is a court of law with all the theatrics about the nature of proving something). Not to mention it's pretty sophomoric of you to assume that unless a (US!) court rules on something, then we have to immediately defer to corporate PR copytext and we cannot make any analysis beyond that.

I've lived in the US. I know how badly Americans reflexively react to someone not buying into their local assumptions. So in a sense I understand you.

But that doesn't mean I am going to buy into your bullshit.