(Reuters) -Some senior Tesla (TSLA) executives were worried last year when Elon Musk denied Reuters that the company had killed the planned brand new $ 25,000 EV, which investors expected to increase explosive vehicles,
“Reuters are lying,” Musk announced X, a few minutes after the story was announced on April 5, 2024, stopping 6% Tesla’s downturn. Tesla shares have recovered some losses after Musk’s post, but Market Close shares decreased by 3.6%.
The leaders knew that Musk had actually canceled the cheap vehicles that many investors called the 2 model and turned Tesla to focus on the independent robotaxe, people said. The company told employees that the project had been more than a few weeks, Reuters said, quoting three sources and company documents.
Musk’s post was so confusing to some older leaders that they asked him if he changed their mind. According to people with knowledge of the matter, Musk rejected their concerns and said the project was still dead.
The concerns of executives that have not been reported before have been revealed in the company’s struggle for cheap, mass market EV, considered the main promise of the company.
Some other Tesla executives were worried about Musk X’s record, people said they were familiar with the matter. The car manufacturer retains its products’ plans flexible, according to one person, responded to market conditions.
A year later, Tesla still has not released cheap EVs, once called the Pivotal, the future of Pivotal, while fighting outdated composition and declining sales. Neither Musk nor Tesla clearly confirmed that they had killed a whole new model that investors and Tesla enthusiasts have long called Model 2 because it would be below the current cheapest Tesla series, 42,500 USD 3.
On Wednesday, Musk announced that he leaves his role as US President Donald Trump’s adviser to return attention to his companies, including Tesla, SpaceX, Xai, Neuralink and Social Media Company X.
Tesla and Musk did not respond to the requests to comment.
A few weeks after Musk’s report on X, Tesla announced an upgrade to investors, which ensured Tesla was still planning “new vehicles, including more accessible models” that would be based on current production lines.
Musk and Tesla have previously said that the $ 25,000 EV would be a whole new model designed and built from scratch on a new platform. Musk marked the project as a pilot for innovative production innovations that would reduce the cost of electric vehicles.
However, instead of a brand new model Tesla, the 3 Model 3 Sedan and Model Y Compact SUV, Reuters reported Reuters in April. No prices for these models were announced and cars to start in the first 2025. Was postponed for half a year.
April During the Tesla revenue call, engineering manager Lars Moravy said affordable models “resemble shape and shape our already produced cars.”
“The most important thing is that they will be available,” he added, “and you will be able to buy it.”
After Musk denied Reuters’ report of killing 2 model, executives asked Musk about what the company should tell to the perplexed suppliers and investors, people said they were familiar with the matter.
Some executives told Associates that denial didn’t make sense – investors and society will inevitably become aware of the truth – and worry that it will hurt Tesla because buyers have delayed the purchase of $ 25,000 Tesla.
Their concerns were not universally shared in the company. One of the sources familiar with the inner deliberations about the denial of musk society said Reuters said Tesla had been discussing various EV production strategies for cheap EV production over many years.
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Gary Black, a Tesla investor who owns money for Future Fund LLC, said he did not think that Musk’s statement was “denial”, noting that Musk often submit “short and sudden” comments that “there may be anything”.
To say that, Reuters told Black that he recently sold its $ 1.2 million fund.
Some Tesla executives told Associates that they were worried that they could descend on nutmeg with hot water with a securities and exchange commission for misleading investors about the future product line that was baked to their forecasts for the company.
Previously Musk 2018 Had paid $ 40 million to pay for another social media record, which the agency suspected that Musk plans to take Tesla private.
Reuters could not determine whether the managers directly applied to the Musk for the concern of the SEC, and whether they warned the SEC itself.
The SEC spokesman refused to comment.
The Musk’s agreement with the SEC requires him to have its social media reports of certain aspects of Tesla, such as new business lines and forecasts about the company, first checked by a lawyer.
According to the people who met his thinking, Musk despises the settlement and said to like -minded people that he did not declare anything he needed to confirm the lawyer.
On the same day, Musk denied the Reuters’ message, re -canceling Tesla’s reserves after working hours, selling a record of Robotoxi unveiled 8/8 on August 8, a plan he had not broadly announced by Tesla employees, said people familiar with the subject. The two -door Cybercab’s Hollywood -style debut ended until October and was overwhelmed by investors.
Many investors have long abandoned hope of reorganization $ 25,000, which would be sold juice. Instead, Tesla announced its first annual decline in the sale of vehicles in 2024, and sales decreased by 13% in the first 2025. In the quarter, when competition and public protests against Musk’s work in the Trump administration are increasing.
April Chinese car manufacturer Byd for the first time overtook Tesla in Europe and is taking the world leader in the affordable EV. The BYD initial -level Seagull Electric hatchback in China costs less than $ 10,000 and sells competitively more than twice the price in export markets.
(Rachael Levy Messages. Edited by Brian Thevenot and Michael Learmonth)
