SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Instagram Outage Disrupts Thousands of U.S. Users 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Tesla has accelerated its plans for more affordable electric vehicles, aiming for production in early 2025. However, the previously announced $25,000 model is no longer expected as Tesla shifts focus to AI and self-driving technologies.
Tesla Shifts Focus to AI and Self-Driving Tech, Drops $25,000 EV Plan
Tesla has reaffirmed its intention to manufacture electric vehicles at a reduced cost; however, it is unrealistic to anticipate the $25,000 electric car that was previously announced, per Electrek.
When it announced its plans, Tesla stated that combining its 4680 cells, structural battery pack, and unboxed manufacturing process would allow it to introduce a $25,000 electric vehicle.
Nevertheless, there was a modification to the plan that occurred earlier this year.
Elon Musk, Tesla's CEO, determined that the company must intensify its focus on artificial intelligence (AI) and self-driving technology, mainly by developing its forthcoming Robotaxi self-driving vehicle.
Tesla Cancels Two Models, Focuses on Affordable EVs Based on Model 3 and Model Y for 2025
As previously reported, Tesla has canceled two vehicles due to the unboxed manufacturing process. The company has verified that the Robotaxi is the only vehicle currently planned for the new platform.
Instead, Tesla is looking forward to introducing two more affordable vehicles based on the Model 3 and Model Y. However, the automaker has clarified that the cost reductions previously indicated, such as the $25,000 Tesla, should not be anticipated.
Tesla published its Q2 2024 earnings, providing an update on its plans. It reiterated the upcoming, more affordable models and accelerated the timeline to the first half of 2025, much sooner than initially anticipated.
"The production of new vehicles, including more affordable models, is expected to commence in the first half of 2025 as planned." These vehicles will be capable of being manufactured on the same manufacturing lines as our current vehicle lineup and will incorporate elements of both our current and next-generation platforms.
Previously, Tesla had proposed that production would commence in the latter half of the following year.
The automaker is once again emphasizing its commitment to completely optimize the production capacity of its existing plants to produce 3 million units, ensuring efficiency and meeting demand.
