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

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

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

Reuters reported today that Tesla (TSLA +2.96%) 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.

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About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
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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.

Stocks Mentioned

Tesla Stock Quote
Tesla
NASDAQ: TSLA
$400.41
(+2.96%)+$11.51
Uber Technologies Stock Quote
Uber Technologies
NYSE: UBER
$77.12
(+0.84%)+$0.64

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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