Latest news with #E41
Miami Herald
05-06-2025
- Automotive
- Miami Herald
New Report Highlights ‘Hidden Truth' Behind Tesla's Vanished $25K EV
Company documents and three people familiar with the matter say that Elon Musk raised significant concerns among some Tesla executives when he denied rumors of the automaker canceling its $25,000 electric vehicle (EV) project after the initiative was known as dead within the organization for weeks. On April 5, 2024, Musk posted on X, formerly Twitter, "Reuters is lying (again)," after the publication reported Tesla's affordable EV, nicknamed the Model 2, as canceled. Reuters's Model 2 report triggered Tesla stock declines, but those losses didn't extend beyond 6% after Musk's denial on X. Musk reversed course months later during Tesla's Q3 earnings call in October, saying: "Basically, having a regular $25K model is pointless. It would be silly. It would be completely at odds with what we believe," according to Road & Track. The new Reuters report claims executives not only knew that Tesla was pivoting from the Model 2 weeks before Musk denied the project's cancellation, but also expected the robotaxi to take its place. Some confused executives asked Musk whether he had changed his mind about ending the Model 2 initiative, to which the Tesla CEO is said to have replied that the project was still over. Other Tesla executives grew concerned about how investors and suppliers would react given their expectation of a new, more affordable vehicle, and feared the denial would hurt Tesla's sales since some were delaying purchases in hopes of a $25,000 EV. The Securities and Exchange Commission (SEC) might even view the statement as misleading investors about a future project that was part of the company's forecasts. Musk already settled with the SEC in 2018 for $40 million over a social media post, which the SEC claimed misled investors into thinking the billionaire would take Tesla private. Still, Musk's public denial didn't bother all Tesla executives, as some cited the automaker as considering various strategies for low-cost EVs over the years. Autoblog reached out to Tesla for comment but didn't receive a response. Earlier this year, Tesla confirmed its updated approach of using pre-existing model platforms to accelerate the release of new vehicles, including affordable cars, one of which was supposed to be a cheaper version of the Model Y, nicknamed E41, and the other being a stripped-down Model 3. However, the stripped-down Model Y will cost more than the originally planned $25,000 price tag, and Reuters's three sources state its US launch is being delayed with an updated release target of late 2025 or early 2026. Reliable reports haven't yet emerged about a stripped-down Model 3's production timeline and pricing. Late last week, a video was posted of a white Tesla SUV driving around the automaker's Fremont, California factory track with its front and rear covered, possibly indicating E41 trials. Tesla Newswire reposted the footage on X. Referenced in some of our previous articles on Tesla, Autoblog interviewed viral YouTuber and mechanic Scotty Kilmer, who seemed to sum up Musk's decision to publicly deny the Model 2's cancellation by saying: "Value to him [Elon Musk] is stock market value. Stock market value isn't real value. It's pumped-up stuff. It used to be that the stock market was an investment. It isn't anymore. It's just outright riverboat gambling. His [Elon Musk] stock can go up billions of dollars or go down billions of dollars with whatever he says." Since Musk's denial of the Model 2's end stopped a stock slide, it seems the Tesla CEO's public statement prioritized damage control instead of buyer and investor transparency. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
03-05-2025
- Automotive
- Yahoo
Tesla quietly delays long-awaited new model amid daunting hurdles — here's what's happening
Electric vehicle automaker Tesla has delayed production of its affordable, mass-market Model Y. The rollout of lower-cost Model Ys will now likely occur a few months later than initially planned. As Reuters reported, three sources confirmed the delayed product launch of Tesla's basic version of its Model Y. The company's lower-cost Model Y, or E41, won't likely be available now until the third quarter of 2025 or early 2026. Tesla hasn't specified the exact reason for the delay. However, industry experts have speculated about Elon Musk's political activities with the Trump administration and rising prices due to tariffs. Reuters' sources said that Tesla plans to produce 250,000 cheaper Model Ys in the U.S. in 2026. The company plans to launch these EVs in 2026 in China; however, the European timeline is unclear. Having more affordable EV options could help boost Tesla sales and contribute to the widespread adoption of clean energy transportation. In the past, Musk promised EVs priced as low as $25,000. However, producing low-cost EVs has been put on the back burner in favor of other company pursuits, such as developing robotaxis. However, if more people can afford EVs, the cleaner our roadways and communities will become. Accessible EVs contribute to a faster transition to sustainable transportation while helping drivers save money on fuel and long-term maintenance costs. EVs that are more accessible to consumers could also help offset the damage to Tesla's brand reputation that has recently been caused by legal battles and political affiliations. If you were going to purchase an EV, which of these factors would be most important to you? Cost Battery range Power and speed The way it looks Click your choice to see results and speak your mind. Although cheaper Tesla Model Ys are delayed, they are still coming and will be available for purchase in the near future. Reuters sources said the brand will also launch a bare-bones version of its Model 3. Meanwhile, technological developments to improve EV batteries are helping extend the lifespan of EVs so that they are financially worth the investment. If you don't want to wait for these versions to come out, you might consider used EVs, which are cost-efficient and increasingly available from dealers and private sellers. Tax credits through the Inflation Reduction Act have made used EVs even more affordable, although those savings may not be available forever. The used EV market has been growing tremendously and offers one of the most affordable ways for drivers to commit to cleaner, greener car ownership. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
The Sun
23-04-2025
- Automotive
- The Sun
Mystery as first-ever ‘affordable' Tesla delayed ‘at least several months' again – as sales in EV firm plunge
TESLA has delayed its affordable EV once again, after promising affordable cars for years. Elon Musk's company has long promised an affordable vehicle to bolster sales but buyers will be forced to keep waiting. 5 5 A cheap and very basic Model Y car was expected to arrive in the first half of this year. But it has now been postponed by "at least several months', according to a report by Reuters. The more affordable vehicle, codenamed E41, may begin production as early as the third quarter of 2025, or possibly even later, according to sources speaking to Reuters. The company hasn't disclosed the cause of the delay, but the report comes at a time of significant financial volatility in the industry, with tariffs expected to have a major impact on the markets. Elon Musk's focus on overseeing the Department of Government Efficiency (DOGE) has also been suggested as a contributing factor to the delay of the affordable EV. The company had initially planned to release a standalone $25,000 car in 2025, but Musk is said to have scrapped those plans, shifting focus to a two-door Robotaxi, called the Cybercab. The Cybercab is expected to launch in 2026. Teslafuture, according to Reuters. Production of the more affordable model is set to begin in the US by late 2025, with production also starting in China in 2026. The vehicle will be smaller and 20 percent less expensive to manufacture compared to the standard Model Y, according to the Reuters report. Currently, the most affordable Tesla is the Model 3 Long Range AWD, priced at $44,130 (or about £33,182), including destination fees. The starting price for the Model Y is at least $50,380 (or about £37,880). Tesla has faced significant challenges in recent months, with its stock plunging across Europe due to backlash against Musk's drastic measures at the Department for Government Efficiency (Doge). Tesla cars have also been vandalized across Europe and the US as a form of protest against Musk's actions. The Tesla CEO has become an increasingly controversial figure both globally and particularly in the US. He has been accused of making a Nazi salute during Trump's inauguration, getting involved in the UK's immigration debate, and openly mocking and marginalizing the transgender community. These controversies have had a ripple effect on his Tesla sales, which dropped by 45 per cent in Europe in January. Following the major decline in profit and sales, Musk has said he intends to "substantially" reduce his involvement in the US government. 5 5 5
Scottish Sun
23-04-2025
- Automotive
- Scottish Sun
First-ever ‘affordable' Tesla delayed ‘several months' again
TESLA TOIL Mystery as first-ever 'affordable' Tesla delayed 'at least several months' again – as sales in EV firm plunge Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) TESLA has delayed its affordable EV once again, after promising affordable cars for years. Elon Musk's company has long promised an affordable vehicle to bolster sales but buyers will be forced to keep waiting. Sign up for Scottish Sun newsletter Sign up 5 Elon Musk unveils the Tesla Model X Credit: Getty - Contributor 5 Elon Musk presenting the Tesla Cybertruck Credit: AFP A cheap and very basic Model Y car was expected to arrive in the first half of this year. But it has now been postponed by "at least several months', according to a report by Reuters. The more affordable vehicle, codenamed E41, may begin production as early as the third quarter of 2025, or possibly even later, according to sources speaking to Reuters. The company hasn't disclosed the cause of the delay, but the report comes at a time of significant financial volatility in the industry, with tariffs expected to have a major impact on the markets. Elon Musk's focus on overseeing the Department of Government Efficiency (DOGE) has also been suggested as a contributing factor to the delay of the affordable EV. The company had initially planned to release a standalone $25,000 car in 2025, but Musk is said to have scrapped those plans, shifting focus to a two-door Robotaxi, called the Cybercab. The Cybercab is expected to launch in 2026. Tesla is now looking to introduce a more affordable Model Y, followed by a cheaper Model 3 in the future, according to Reuters. Production of the more affordable model is set to begin in the US by late 2025, with production also starting in China in 2026. The vehicle will be smaller and 20 percent less expensive to manufacture compared to the standard Model Y, according to the Reuters report. Currently, the most affordable Tesla is the Model 3 Long Range AWD, priced at $44,130 (or about £33,182), including destination fees. The starting price for the Model Y is at least $50,380 (or about £37,880). Tesla has faced significant challenges in recent months, with its stock plunging across Europe due to backlash against Musk's drastic measures at the Department for Government Efficiency (Doge). Tesla cars have also been vandalized across Europe and the US as a form of protest against Musk's actions. The Tesla CEO has become an increasingly controversial figure both globally and particularly in the US. He has been accused of making a Nazi salute during Trump's inauguration, getting involved in the UK's immigration debate, and openly mocking and marginalizing the transgender community. These controversies have had a ripple effect on his Tesla sales, which dropped by 45 per cent in Europe in January. Following the major decline in profit and sales, Musk has said he intends to "substantially" reduce his involvement in the US government. 5 Tesla shows the 2024 Model Y. This popular small electric SUV can go up to an estimated 320 miles on a full charge 5 Elon Musk and Donald Trump in a red Tesla Credit: AFP
The Irish Sun
23-04-2025
- Automotive
- The Irish Sun
Mystery as first-ever ‘affordable' Tesla delayed ‘at least several months' again – as sales in EV firm plunge
TESLA has delayed its affordable EV once again, after promising affordable cars for years. Elon Musk's company has long promised an affordable vehicle to bolster sales but buyers will be forced to keep waiting. 5 Elon Musk unveils the Tesla Model X Credit: Getty - Contributor 5 Elon Musk presenting the Tesla Cybertruck Credit: AFP A cheap and very basic Model Y car was expected to arrive in the first half of this year. But it has now been postponed by "at least several months', according to a report by Reuters. The more affordable vehicle, codenamed E41, may begin production as early as the third quarter of 2025, or possibly even later, according to sources speaking to Reuters. The company hasn't disclosed the cause of the delay, but the report comes at a time of significant financial volatility in the industry, with tariffs expected to have a major impact on the markets . Elon Musk 's focus on overseeing the Department of Government Efficiency (DOGE) has also been suggested as a contributing factor to the delay of the affordable EV. The company had initially planned to release a standalone $25,000 car in 2025, but Musk is said to have scrapped those plans, shifting focus to a two-door Robotaxi, called the Cybercab. The Cybercab is expected to launch in 2026. Tesla is now looking to introduce a more affordable Model Y, followed by a cheaper Model 3 in the future , according to Reuters. Most read in Motors Production of the more affordable model is set to begin in the US by late 2025, with production also starting in China in 2026. The vehicle will be smaller and 20 percent less expensive to manufacture compared to the standard Model Y, according to the Reuters report. Currently, the most affordable Tesla is the Model 3 Long Range AWD, priced at $44,130 (or about £33,182), including destination fees. The starting price for the Model Y is at least $50,380 (or about £37,880). Tesla has faced significant challenges in recent months, with its stock plunging across Europe due to backlash against Musk's drastic measures at the Department for Government Efficiency (Doge). Tesla cars have also been vandalized across Europe and the US as a form of protest against Musk's actions. The Tesla CEO has become an increasingly controversial figure both globally and particularly in the US. He has been accused of making a Nazi salute during Trump's inauguration, getting involved in the UK's immigration debate, and openly mocking and marginalizing the transgender community. Read more on the Irish Sun These controversies have had a ripple effect on his Tesla sales, which dropped by 45 per cent in Europe in January. Following the major decline in profit and sales, Musk has said he intends to "substantially" reduce his involvement in the US government. 5 Tesla shows the 2024 Model Y. This popular small electric SUV can go up to an estimated 320 miles on a full charge 5 Elon Musk and Donald Trump in a red Tesla Credit: AFP 5 US President Donald Trump and Tesla CEO Elon Musk speak to the press as they stand next to a Tesla Cybertruck on the South Portico of the White House on March 11, 2025 Credit: AFP
