Elon Musk denies report claiming that Tesla has scrapped its affordable car

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Elon Musk has denied a recent report from Reuters claiming that Tesla has scrapped its affordable car, which is expected to be priced at around $25,000. The publication claimed that it received information about the cancellation of Tesla’s low-cost EV program from three individuals reportedly familiar with the matter. 

Reuters’ report was quite surprising considering that Tesla already seems to be preparing for its next-generation vehicles, which are expected to be comprised of an affordable car and a dedicated robotaxi that are created from the same platform. The publication’s sources reportedly claimed that Tesla has scrapped its affordable car in favor of a push towards self-driving robotaxis.

Musk’s reaction to Reuters’ report was immediate, with the CEO stating in a post on social media platform X that the publication was lying again. Reuters, however, claimed to have reviewed company messages to suppliers about NV91 and H422, the affordable car’s reported designation. The publication also claimed to have reviewed messages from a Tesla manager discussing the low-cost EV’s supposed cancelation. 

While it remains to be seen if Tesla’s affordable car was really halted or not, expectations were already high that the low-cost EV and dedicated robotaxi would be built on the same platform. Thus, even if Tesla were to focus more resources now on the robotaxi, it likely does not mean to say that the company is canceling its low-cost EV. Both vehicles might be very similar, after all, though the affordable car will have a steering wheel and pedals. 

Elon Musk seemingly gave a nod to such speculations on X, with the CEO posting an “eyes” emoji as a response to a Tesla watcher who wondered if Tesla may be shifting more resources to FSD and the dedicated robotaxi due to the impressive results of FSD V12. 

Musk has been pretty critical of Reuters’ reports on Tesla over the years, and the publication has also been pretty critical of the CEO and the electric vehicle maker. Just this past February, Reuters staff won the 2023 George Polk Award for Business Reporting for their critical coverage of alleged “nefarious practices” at companies owned by Musk. In November 2022, Musk also denied a report from the publication claiming that Tesla was considering importing vehicles from Giga Shanghai to the United States. Musk’s denial has been accurate as of writing. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Elon Musk denies report claiming that Tesla has scrapped its affordable car





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BYD plans to launch Tesla Cybertruck competitor in 2024

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BYD plans to launch an electric pickup truck to compete against the likes of the Tesla Cybertruck and the Ford F-150 Lightning. 

According to the Chinese company’s announcement, it has developed a midsize-to-large pickup truck for the global market. BYD revealed photos of its first electric pickup truck, showcasing its general appearance. However, it did not disclose price estimates or other details about the all-electric pickup truck’s design. 

BYD’s electrified pickup might not be sold in the US market, despite it being the most popular market for pickup trucks. Stella Li, the Executive Vice President and CEO of BYD Americas, described the United States’ EV market as complicated. She added that BYD does not have plans to enter the United States.

BYD will probably launch its electric pickup truck in other markets that are interested in pickup trucks, including Thailand. The Chinese automaker does have a presence in South America, which might be a good market for its electric pickup truck.

The Tesla Cybertruck toured China earlier this year and became an instant celebrity among locals. Crowds gathered around the Tesla Cybertruck in China–much like anywhere else, it had made an appearance. People also lined up to get a closer look at Tesla’s all-electric pickup truck. 

The Tesla Cybertruck’s potential in the Chinese auto market might also be dubbed complicated. China classifies pickup trucks, like the Tesla Cybertruck, as light trucks. With their classification, pickups face more restrictions compared to passenger cars like the Tesla Model Y. For instance, pickup trucks are required to drive in the right-most ‘slow’ lane. China also sets a speed limit of 100 kph (62 mph) for light pickup trucks.

BYD and Tesla’s rivalry will likely continue with the Chinese automaker’s upcoming electric pickup truck. Both companies seem to welcome some friendly competition, making rivalry even more interesting. 

As of Q1 2024, Tesla beat BYD in pure battery electric vehicle (BEV) deliveries. The Chinese automaker reported delivering 300,114 BEVs in the first quarter, while Tesla delivered 386,810 units. 

If you have any tips, contact me at maria@teslarati.com or via X @Writer_01001101. 

BYD plans to launch Tesla Cybertruck competitor in 2024





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Tesla’s Elon Musk reiterates FSD licensing offer for other automakers

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Tesla’s Full Self-Driving (FSD) suite may attract a lot of skepticism from critics, but the fact remains that it is one of the most advanced driver-assist systems available for consumers today. With the rollout of FSD (Supervised), Tesla has effectively brought supervised assisted driving to inner-city streets. And in a recent post on X, CEO Elon Musk reiterated his willingness to license FSD to other carmakers. 

Driver-assist systems are widely available today. One would only need to see the critical media coverage on Tesla Autopilot to see that other prominent driver-assist systems are offered by automakers like Ford, General Motors, and Mercedes-Benz. Such systems, however, tend to have numerous limitations. They also tend to only be available on freeways. 

The story is much more different in inner-city streets. In such locations, Tesla FSD (Supervised) competes only with sophisticated autonomous driving solutions from companies like Waymo and Cruise. Provided that Tesla could further refine FSD (Supervised) to such a degree that it is unequivocally safer than an average human driver in both freeways and inner-city streets, the system would likely be a no-brainer for other automakers. 

The car industry is extremely competitive, after all, so features like FSD (Supervised) could potentially become a competitive advantage. 

Elon Musk actually responded positively to a proposed FSD licensing model pondered by longtime FSD Beta tester @WholeMarsBlog. As per the Tesla owner, FSD licensing could involve Tesla allowing an OEM to integrate the system into any car for free or at cost, but buyers would pay for the license to use the system. The Tesla owner also suggested that by opting into FSD, drivers could enjoy access to Tesla’s active safety and basic features, as well as lower Supercharger rates. 

In a post on X, Musk noted that “Tesla would be happy to do such deals.” Musk also responded positively to the idea that Tesla’s earnings from its FSD licensing deals would eventually exceed the company’s business earnings. “Good chance that turns out to be true,” Musk wrote in a post on X. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Tesla’s Elon Musk reiterates FSD licensing offer for other automakers





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