Tesla cancels plans to produce a cheap car due to competition from China. This is reported by Reuters, according to UNN.
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Competitive pressure from Chinese electric cars is forcing Tesla to abandon its plans to create an affordable electric car for the masses.
According to reports, the American car manufacturer has decided to cancel the development of an inexpensive car that has long been promised to investors.
Instead, Tesla will focus on developing self-driving robotaxis based on small vehicles.
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This step indicates a change in the company's strategy, as it is abandoning its primary goal of creating affordable electric vehicles for the general public. It has been noted that Tesla CEO Elon Musk has often referred to this goal as his primary mission.