Tesla Scrapes Low Cost Car Plans _ Reuters Exclusive

[alarmguy]

Since this is an exclusive who knows? Im sure it is.
It's simply a sign of the times. China does it cheaper and Tesla backing off at least so far. Not that this is the reason but the stock taking yet another hit. Heck it only has to go up 125% to get NEAR its all time high as of today.

https://www.reuters.com/business/autos-transportation/tesla-scraps-low-cost-car-plans-amid-fierce-chinese-ev-competition-2024-04-05/

 

[AZjeff]

Can't get past their adblocker ad.....

 

[wpod]

Tesla probably figures it can not or will not compete with the Chinese brand

 

[demarpaint]

Tesla probably figures it can not or will not compete with the Chinese brand

For now, that can easily change as they take more market share from them.

 

[OilyOrangutan]

Can't get past their adblocker ad.....

here you go:

https://archive.ph/vcUtv

 

[Cujet]

Directly from Elon:

"Reuters is lying (again)"

Source:

 

[Pew]

Does it really surprise anyone when Elon announces something so he get hype and money from pre-orders, then cancels it?

Where's that Cybertruck and Roadster that was supposed to be released years ago?

 

[97prizm]

Musk was the Dummy that mocked the CEO of BYD a few years ago and said "They'd never see any real market share." Look who's laughing now.

 

[BHopkins]

I also just read an article this morning, from Slash Gear. They referred to Reuters reporting a Tesla internal message that read "Suppliers should halt all further activities related to H422/NV91." H422 and NV91 are both codes assigned to the company's "affordable car project."

Read More: https://www.slashgear.com/1556151/tesla-cheap-model-ev-canceled-china-competiton/

I guess we will have to wait and see if this is fake news or the real thing. If this is the real thing, Elon has to be disappointed. It has always been his goal to make an EV that is affordable for the "masses".

 

[alarmguy]

Directly from Elon:

"Reuters is lying (again)"

Source:

Reuters included Elons quote in their news story, the link is in my OP.
So there is nothing new here, Reuters also pointed out that Elon didn’t say what they were lying about.

Tesla needs a new CEO. They have zero credibility with the industry

 

[camrydriver111]

After all the other Musk promises did anyone believe it was actually going to happen?

 

[alarmguy]

After all the other Musk promises did anyone believe it was actually going to happen?

Reuters on a roll today.
Just reported 2 Tesla workers is seeking class action lawsuit at the California plant for multiple labor law violations including being cheated out of overtime pay, forced to work without breaks among other violations.

Not that this as significant as the original post in here. Workers can bring law suits at any time, but and a big butt it is if in fact, this is true let’s not forget the UAW is looking to unionize that plant. Should the threat of the UAW become real I’m sure that will further affect stock price. I just thought I would post this year. It’s still not as important as the OP.

https://www.reuters.com/legal/tesla-accused-lawsuit-cheating-california-workers-out-wages-2024-04-05/

 

[mk378]

Ford's only car was the Model T for nineteen years before being replaced with the Model A, but I don't think that's going to work for Tesla.

 

[97prizm]

Ford's only car was the Model T for nineteen years before being replaced with the Model A, but I don't think that's going to work for Tesla.

It can't. If you look at automotive brands sold in the USA since 1989-90 who dissapeared? Daihatsu, Daewoo, Suzuki, Mitsubishi is hanging on by a thread. Hyundai/Kia almost pulled out in the early 2000s due to abysmal quality. They all had virtually zero variants in their line-up and the same so-so product. Tesla has changed course with the "Model 2" a half dozen times. Tesla engineers have repeatedly said they are 10-15 years out MINIMUM from coming out with a level 5 if it's even possible. Yet every year Musk claims that Tesla has just a "few small hurdles " to overcome to reach level 5 autonomy driving. I'm sure whatever state in Mexico Tesla was slated to build their new Ultra Modern plant is now really irked. The Cybertruck is starting to become a financial disaster as it was five years late and they still can't get it assembled correctly. The entire Cybertruck forum has complaints a mile long. The article is interesting as Musk claimed a month ago that the Model 2 was coming along great and Tesla was making headway. What happened, was this another lie?

 

[97prizm]

Does it really surprise anyone when Elon announces something so he get hype and money from pre-orders, then cancels it?

Where's that Cybertruck and Roadster that was supposed to be released years ago?

Late last year Infosys bubbled up that alot of early Cybertruck deposits were flippers. It's only really starting getting into the hands of some deposit holders. YET so many are showing up on cars&bids, bringatrailer, etc and either selling for very little over the initial amount or not meeting reserve. Last November two TFL journalists who had deposits reached out to Tesla about their status. Roman Mica from TFL and a co-worker were told they were 50,000 and 50k and change deep and they wouldn't see delivery until early 2025. In February of this year their deposit "magically came available. " I honestly think the number of people taking delivery is far lower than expected. Add a huge list of complaints of dead batteries, inexcusably poor fit and finish, new Cybertrucks that just turn off, won't charge etc.

 

[Cujet]

Ford's only car was the Model T for nineteen years before being replaced with the Model A, but I don't think that's going to work for Tesla.

It would take a very special vehicle, with timeless styling, to achieve that again.

Some examples that people don't think about might include the Nissan 370Z, which was produced for about 12 years, in pretty much the same form. C4 Corvettes were also produced for a good long time for 12 years or so. As were the Fox bodied Mustangs which were produced from 1979 (when I helped with engine development) to 1993, about 14 years.

Jeeps too!

 

[y_p_w]

It would take a very special vehicle, with timeless styling, to achieve that again.

Some examples that people don't think about might include the Nissan 370Z, which was produced for about 12 years, in pretty much the same form. C4 Corvettes were also produced for a good long time for 12 years or so. As were the Fox bodied Mustangs which were produced from 1979 (when I helped with engine development) to 1993, about 14 years.

The current Nissan GT-R is in its 15th model year and it's been around even longer than that.