Dan Niles, senior portfolio manager at Satori Funds, joins “Morning with Maria” to share his stock picks as investors await the March jobs report.
Tesla CEO Elon Musk on Friday accused Reuters of “lying” after the magazine reported that the electric car giant would abandon production plans for a long-touted budget-friendly starter car. ” he criticized.
Citing three anonymous “familiar sources”, Reuters reported Tesla says it has scrapped efforts to launch an inexpensive car for the masses called the Model 2, which was expected to start at $25,000. The media said it had reviewed several internal Tesla documents confirming the end of the project.
Tesla CEO Elon Musk on Friday called Reuters “lying” after the magazine published a report claiming Tesla had abandoned plans for an inexpensive entry-level car. he accused. (Reuters/Gonzalo Fuentes/Reuters Photo)
In response to the report, Musk wrote to X: “Reuters is lying (again).”
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Reuters added Musk’s response to the article, saying:[h]”No specific inaccuracies have been confirmed,” the newspaper said, also noting that Tesla’s stock price fell nearly 5% after the report.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 164.90 | -6.21 | -3.63% |
FOX Business has reached out to Tesla for comment.
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Mr. Musk has long hinted at the arrival of lower-cost Tesla models, and in the past year he has slashed the cost of existing models amid a global EV price war as the industry races to attract budget-conscious consumers amid rising interest rates. has been reduced.
New Tesla electric cars line up in the parking lot of a Tesla retail store on July 5, 2023 in Smithtown, New York. (John Paraskevas/Newsday RM via Getty Images/Getty Images)
According to Reuters, the price war is particularly evident in China’s EV market, where Tesla has a large presence and domestic manufacturers are rolling out models priced as low as $10,000.
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Tesla’s Model 3 is currently its most affordable product, starting at around $39,000 in the United States.
