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Musk said: Lose interest in electric vehicles and give up Model 2!
Published:
2025-05-23
Recently, there have been two pieces of news about Tesla Musk that seem rather divisive. One is that "Musk claimed on the X platform that Tesla has abandoned the low-cost electric vehicle Model 2 project and is fully investing in AI and robots." Another piece of news is that "Musk announced at the Qatar Economic Forum that he will continue to serve as the CEO of Tesla for the next five years, unless he passes away."
Are cheap electric vehicles going bad?
According to our actual search results, although many media outlets reported "Musk on social media X (formerly Twitter) about terminating the Model 2 project", the complete original text was not directly and publicly quoted, and even the original post on the X platform was not found.
Only in April 2024, a Reuters reporter wrote that Tesla had cancelled the affordable electric vehicle Model 2 project originally scheduled to be released in 2025 and instead fully bet on Robotaxi (self-driving taxis). The report, citing internal documents, shows that the engineering team was transferred away from Model 2 at the end of February, while Musk once said at an internal meeting that "making cheap cars cannot change the world".
Subsequently, Musk promptly retaliated on social media X: "Reuters is lying again." However, he did not specifically clarify whether Model 2 was cancelled. Instead, he made a high-profile announcement that Robotaxi would be released on August 8 of the same year and pinned the tweet. Furthermore, regarding the Tesla low-cost electric vehicle Model Q (also known as Model 2) that has been circulating online all along, apart from some disguised spy photos, there is hardly any substantial information. And the rumored launch in June this year is drawing nearer and nearer, but still no major moves from Tesla regarding the Model Q have been seen, not even a shred of detailed information. Obviously, whether this piece of news is true or false, it reflects the dissatisfaction of external institutions with Tesla's current situation and their lack of confidence in future expectations. Serve as the CEO of Tesla for another five years! Although it is impossible to verify whether the Model Q or Model 2 project has been cancelled, Musk's continued management of Tesla has given a "reassuring pill". According to a video interview at the Qatar Economic Forum, Musk said, "Unless I die, I will continue to serve as the CEO of Tesla for the next five years."
This statement was widely reported by many mainstream media outlets and was interpreted as a strong response to the Wall Street Journal's rumor that the board was secretly seeking a successor. In fact, this still reflects the outside world's doubts about Musk's current situation and concerns about Tesla's future. At present, Tesla is overly dependent on Musk's personal charisma. Therefore, although Musk's "five-year vow" seems to have solidified the leadership, it has exposed the deep-seated hidden dangers of Tesla.
Tesla's net profit in 2024 dropped by 53% year-on-year, and its global deliveries in the first quarter of 2025 decreased by 13% year-on-year. The European market was particularly dismal (sales in Germany plummeted by 76%). The termination of Model 2 led to claims from supply chain partners. Battery supplier Panasonic alone demanded a penalty of 230 million US dollars.
Robotaxis with AI-led autonomous driving functions still need to overcome the three major obstacles of regulations, safety and infrastructure. At present, the accident rate of FSD systems in the United States is still 40% higher than that of human drivers. After Musk's speech, Tesla's stock price rose in response. So both Wall Street and investors welcomed Musk's determination to continue leading the company. But how long can the Tesla brand last! It will only be after June 25th that the answer becomes clear!