Tesla reportedly abandons plans to make a less expensive $25,000 electric vehicle

News Snapshot:

The Tesla Model 2 may be no more. According to Reuters, Elon Musk has canceled the company’s plans to build a low-cost electric vehicle in favor of going all in on a robotaxi. The news outlet, citing three sources in the know, said the decision was communicated to employees during an all-hands meeting in late February. For years, Musk has been promising an affordable electric vehicle, likely priced at $25,000, as a way to broaden the appeal of plug-in vehicles. He first mentioned it in a 2018 interview with YouTuber Marques Brownlee, saying, “A $25,000 car, that’s something we can...