Is Tesla Scrapping the $25,000 Car or Not?

By Travis Hoium – Apr 6, 2024 at 6:15AM

NASDAQ: TSLA

Tesla

Market Cap

$537B

Today's Change

(15.31%) $25.76

Current Price

$194.05

Price as of April 29, 2024, 4:00 p.m. ET

Tesla's low-price vehicle may not be hitting roads anytime soon.

Reuters reported today that Tesla (TSLA 15.31%) is no longer pursuing the $25,000 vehicle that has been promised for years, choosing instead to focus on robotaxis. Elon Musk responded that this wasn't true, but didn't give any real detail.

In this video, Travis Hoium discusses why we shouldn't overlook this report and where Tesla faces challenges in the future of EVs and autonomous driving.

*Stock prices used were end-of-day prices of April 5, 2024. The video was published on April 5, 2024.

Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla and Uber Technologies. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.