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Some senior Tesla executives were alarmed last year when Elon Musk denied a Reuters report that the company had killed a planned all-new $25,000 EV that investors had expected to drive explosive vehicle sales growth, according to people familiar with the matter.
“Reuters is lying,” Musk had posted on X, minutes after the story published on April 5, 2024, halting a 6% decline in Tesla’s stock. Tesla shares recovered some of the loss after Musk’s post, but the stock was down 3.6% at market close.
The executives knew that Musk had, in fact, canceled the…
