The announcement, posted by Musk on X Friday afternoon, capped off a weird day of reports and counter-reports that sent Tesla’s stock on a roller-coaster ride, slipping down 6 points on the day before recovering in after-hours trading. Earlier in the day, Reuters reported that Tesla had canceled long-gestating plans to develop an affordable electric vehicle for the masses.
The “next generation” vehicle is widely thought to be key to the electric automaker’s survival, especially as competition heats up in the EV space. Instead, the news agency reported, Tesla would focus on building a robotaxi, which would use much of the same hardware as the low-cost vehicle. But Musk logged on to X to deny at least part of the Reuters story. “Reuters is lying (again),” he posted, without specifying what the news agency got wrong. Hours later, he seemed to confirm part of the report by posting that Tesla’s next product release would focus on robotaxi
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