Looks Like A $25,000 Tesla Won’t Be Coming Anytime Soon
Tesla is postponing plans to manufacture a cost-effective electric vehicle, touted to start at $25,000, company CEO Elon Musk told shareholders in a webinar. It's the latest in a series of delays and cancellations regarding rumored products. Tesla, namely its CEO and frontman Elon Musk, has a long history of making marketing claims that have yet to hold weight. The second-generation Tesla Roadster, which was unveiled nearly five years ago, is still "in development." Same goes for the Cybertruck, which the company proclaimed to be a new take on the classic pickup truck.
The company's webinar comes at a time when the Tesla brand is becoming more prominent, and yet, more criticized. From regular delays in hardware and software releases, to vulnerabilities due to security flaws, the company has been plagued with an inability to ship adequate products. Customers are increasingly concerned about the baseless claims that come from Musk, and by extension, Tesla. The virtual Q&A format, that followed the company's release of its Q4 2021 earnings report, reflected that sentiment. Shareholders too asked about the projects in development, and when both consumers and shareholders will see return on their investment.
Related: Tesla Hit With Complaints Of Frozen Heating System In Cold Climates
Tesla's Investor Relations department released their quarterly earnings in a press release, which showed yearly growth of over 70%. However, what was more interesting was the questions from the shareholder Q&A sections, including discussions about the company's unreleased products. In response to a requested update on Tesla's rumored $25,000 electric car, Musk said "Well, we're not currently working on a $25,000 car." While it's a vision for the
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