Tesla's stock has room to fall, says Tusk Ventures' Bradley Tusk
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Yahoo
2 hours ago
- Yahoo
Tesla's six-seat Model Y variant may not be launched in US
(Reuters) -Tesla CEO Elon Musk said the company's new six-seat Model Y variant, launched in China this week, might never enter production in the United States, citing the rise of self-driving vehicles. The Model Y L, built at Tesla's Shanghai factory, features a longer wheelbase and three rows of seats, and is priced at around $47,200. It went on sale in China on Tuesday, where Tesla faces mounting competition from domestic EV makers such as BYD and Xiaomi. Switch Auto Insurance and Save Today! Great Rates and Award-Winning Service Affordable Auto Insurance, Customized for You The Insurance Savings You Expect "This variant of the Model Y doesn't start production in the US until the end of next year," Musk said in a response to a post from an X user. "Might not ever, given the advent of self-driving in America." Musk did not elaborate on how the rise of autonomous driving would negate the need for a six-seater vehicle. Tesla did not immediately respond to a request for comment. Gas-powered SUVs with three rows have long been popular among American families. However, making profitable three-row EVs is still a challenging business for automakers. Recent policy changes by the Trump administration are also set to make electric vehicles more expensive, prompting automakers to focus more on smaller, cheaper variants. Tesla is also preparing to launch a cheaper Model Y variant, likely with fewer premium features, later this year, which Musk has described as "just a Model Y". Tesla has increasingly shifted focus in the U.S. to its robotaxi ambitions. The company launched a limited robotaxi service in Austin in June and aims to scale operations to half of U.S. population by the end of this year. Musk told investors last year that building traditional vehicles would be "pointless" in a self-driving future. Next year, Tesla is set to start production of the Cybercab, a dedicated two-seater robotaxi model without a steering wheel and pedals. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
2 hours ago
- Business Insider
Tesla CEO Musk ‘pumping brakes' on starting political party, WSJ reports
Tesla (TSLA) CEO Elon Musk is quietly pumping the brakes on plans to start a third political party, the America Party, with a desire to focus on his companies, The Wall Street Journal's Brian Schwartz reports. Musk is wary of alienating Republicans and wants to maintain ties with Vice President JD Vance, a potential 2028 presidential candidate, according to people with knowledge of his plans. The Tesla CEO's team canceled a meeting with a third-party campaign-organizing group, according to the report. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
