What's happened
Tesla has canceled plans for the low-cost Model 2, shifting focus to self-driving robotaxis. Elon Musk refuted reports of killing off the affordable electric car, emphasizing the company's commitment to robotaxis. The decision marks a departure from Tesla's goal of affordable electric cars for the masses.
Why it matters
Tesla's shift to self-driving technology over a low-cost vehicle could impact the company's future growth and market positioning. The move raises questions about Tesla's strategic direction and the feasibility of achieving full autonomy by 2030.
What the papers say
The NY Post reported on Tesla's cancellation of the Model 2, highlighting Elon Musk's previous promises of an affordable model. Axios covered Musk's denial of the report and the subsequent rise in Tesla's stock price. The Japan Times discussed the risks of Tesla's focus on robotaxis over a low-cost vehicle.
How we got here
Tesla's decision to cancel the Model 2 comes after years of anticipation for an affordable electric car. Elon Musk's ambition for self-driving technology has led to a shift in priorities, with Tesla now emphasizing the development of robotaxis.
Common question
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Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. The company specializes in electric vehicle manufacturing, battery energy storage from home to grid scale and, through its acquisition of SolarCity, solar
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Elon Reeve Musk FRS is an engineer, industrial designer, technology entrepreneur and philanthropist. He is the founder, CEO, CTO and chief designer of SpaceX; early investor, CEO and product architect of Tesla, Inc.; founder of The Boring Company; co-foun
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Reuters is an international news organization owned by Thomson Reuters. It employs some 2,500 journalists and 600 photojournalists in about 200 locations worldwide.
The agency was established in London in 1851 by the German-born Paul Reuter.
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