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Elon Musk Hits Back at Report That States Tesla Is Ending Plan to Make Cheaper Electric Vehicles

In a fiery response, Elon Musk, the billionaire owner of Tesla, vehemently denied the claims made by Reuters.

Musk accused the outlet of spreading falsehoods, asserting that Tesla has not abandoned its plans to produce affordable electric vehicles.

Instead, the company remains committed to advancing the development of robo-taxis, according to Musk.

According to a report from Reuters, Tesla has reportedly changed its plans regarding the production of more affordable electric vehicles.

The company, as per anonymous sources and internal messages, is said to have abandoned its previous commitment to start manufacturing cheaper EVs by 2025.

Following the publication of the report, Tesla’s stock experienced a significant decline of 6.2% before gradually recovering to its opening price on Friday, which was just below $170 per share.

Afterwards, Musk shared a chart that displayed the decline in Reuters’ monthly and yearly website traffic.

For years now, the visionary billionaire and Tesla owner, Elon Musk, has been vocal about the company’s plans to venture into the realm of affordable electric vehicles.

Referred to as the Model 2, this highly anticipated $25,000 car has been the talk of the town since 2018.

According to a report by Bloomberg, the billionaire entrepreneur stated in January that his company was making significant progress in developing an affordable car.

At present, the price tag for Tesla’s most affordable car, the Model 3, stands at almost $40,000 in the United States.

Meanwhile, some of the other electric vehicles in Tesla’s range can reach a staggering $150,000.

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