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Tesla scraps low-cost car plans amid fierce Chinese EV competition
Tesla's cheapest current model, the Model 3 sedan, retails for about $39,000 in the United States.
A fourth person with knowledge of Tesla's plans expressed optimism about the decision to pivot away from the cheap-car strategy in favor of robotaxis, a segment Musk has envisioned as the future of mobility. In a biography of the entrepreneur released last year, author Walter Issacson reported that Musk in 2022 "put a hold on" the entry-level EV plans, reasoning that a Tesla robotaxi would make the car irrelevant. The automaker faces another investigation into the driving-range estimates of its cars, launched after Reuters reported last year that Tesla had rigged the in-dash range meters in its vehicles to give rosy projections.
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