The Verge: https://www.theverge.com/2024/4/5/24122064/tesla-cancel-affordable-electric-vehicle-model-2-china
Business

The electric car company abandoned plans to make a less expensive vehicle

admin

Elon Musk on Tesla: Implications for the Future of Autonomous Systems and the Security of the U.S e+e- Connected

Tesla will reveal its long-promised robotaxi on August 8th, Elon Musk just posted on X. The forthcoming autonomous vehicle is said to be built on Tesla’s next-generation vehicle platform.

Musk has said the more affordable EV would be built on the company’s next-generation vehicle platform, which is still under development. During an earnings call earlier this year, Musk said the company is targeting production “towards the end of 2025” but warned of delays due to the complexities of the manufacturing process.

The so-called “Tesla Network” was described in Musk’s Master Plan Part Deux. “You will also be able to add your car to the Tesla shared fleet just by tapping a button on the Tesla phone app,” he wrote, “and have it generate income for you while you’re at work or on vacation, significantly offsetting and at times potentially exceeding the monthly loan or lease cost.”

Musk’s repeated claims that autonomous vehicles were just “a year” or so away are now part of Tesla lore. His supporters point to the success of autopilot and then FSD as evidence that he is still at the forefront of a societal shift away from human powered vehicles to ones piloted by artificial intelligence. He wants to demonstrate the point that the technology is compatible with other technologies.

Critics say that he exaggerates the capabilities of the technology, often with deadly results. There have been hundreds of crashes and dozens of deaths withTesla vehicles. The company is facing numerous wrongful death lawsuits. The US government is investigating the company’s claims around self-driving, and a major recall was announced late last year. Even the robot seems flawed.

While Tesla spent years developing the expensive, polarizing Cybertruck, the company lost its place as the world’s top producer of electrified vehicles to China’s BYD. 3.02 million EVs were produced by the company, compared to 1.81 million cars by the company.

Chinese automakers have been producing more affordable EVs for years, so the shift in strategy comes as Tesla faces increasing pressure. Musk said that allowing Chinese companies to sell cheap EV’s in the U.S. would be a death sentence for domestic manufacturers. High tariffs have made Chinese cars not be available for sale in the US.

In,
Previous post There have been job gains in March
Next post The electric vehicle company was planning on making a less expensive vehicle

More Stories

There have been job gains in March

admin

Kwest Group CEO Ryan Odendahl has said that the company is seeing more project opportunities for its employees, and that young people are starting to see the opportunity in the industry. He added that they need to do a better job as an industry of telling the “great things” happening in construction. The US construction industry created 39,000 jobs in March.

Sam Bankman- Fried was sentenced to 25 years for fraud

admin

Ex-CEO of FTX, Michael Bankman-Fried, was on Monday sentenced to 100 years in prison in US after he was found guilty of siphoning off $8 billion from the company’s customer funds. Judge Lewis Kaplan said the sentence was “appropriate”, adding that Bankman-Fried “has already betrayed many people”. Bankman-Fried has been in jail because prison doesn’t offer a vegan diet.

The Port jobs are at risk after the Baltimore disaster

admin

The Port of Baltimore is the ninth busiest port in the US and handled around 3% of imports along the east and Gulf Coast last year, according to S&P Global Market Intelligence. Disruptions at the port will have consequences and can led to ripple effects, Professor Tinglong Dai at Johns Hopkins University said. He expects the port to become more important in the coming decades.

On the first day of trading, stock surged

admin

Reddit’s initial public offering, the largest ever by an American company, has raised $2 billion in the first-ever IPO by a Chinese firm. The company had confidentially filed for its IPO in October last year. Reddit was founded by a pair of students in 2005 at the University of Virginia and has grown over the years to over 1 million users daily.