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A less expensive electric vehicle was supposed to be built by the company

The Tesla Network: Creating a Superconducting and Economically-Efficient Electric Vehicle for the Next-Generation Industrial Revolution

According to the report, the all-new electric vehicle would be produced later in the 20th century. The company invited suppliers to bid to work on the car and forecasted producing 10,000 vehicles weekly. It was speculated that this could be the long promised $25,000 car for mass-market consumers and it could borrow design elements from the recently released Cybertruck.

The company plans to go all in on a robotaxi, after abandoning plans to build a low-priced electric vehicle. The news outlet stated that the decision was communicated to employees at an all-hands meeting in late February.

This would be the so-called “Tesla Network,” as described in Musk’s Master Plan Part Deux. He wrote about how you can add your car to the shared fleet by simply tapping a button on the phone app, and have it generate income for you while you are at work or on vacation.

Musk’s repeated claims that autonomous vehicles were just “a year” or so away are now part of Tesla lore. His backers point to the success of Autopilot and then FSD as proof that his promises may not be true, but he is still at the forefront of a societal shift from human powered vehicles to ones piloted by artificial intelligence. He is making a huge army of humanoid worker bots to prove the point that it is officially compatible.

Critics argue that he exaggerates the capabilities of the technology and that it ends up killing people. Dozens of deaths have been caused by crashes with cars using Autopilot and FSD. The company is facing numerous wrongful death lawsuits. A major recall was announced late last year after the US government launched an investigation into the company’s claims around self-driving. The robot seems to be flawed.

“We are focused on bringing the next generation platform to market as quickly as we can, with the plan to start production at Gigafactory Texas,” Tesla said in a note to shareholders. This platform will help change the way cars are manufactured.

The shift in strategy comes as Tesla faces increasing pressure from Chinese automakers, which have been producing more affordable EVs for years. Musk has said that allowing Chinese companies to sell cheap EVs in the United States would be a death sentence for domestic manufacturers. There are no Chinese cars currently for sale in the US due to high tariffs.