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1
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· Posted on
April 12, 2024

Tesla announces plans for a big-bet robotaxi... just when everyone was expecting a cheaper EV

Elon Musk announces plans to build a futuristic, self-driving robotaxis.

What's the key learning?

  • Tesla has discounted the price of its cars 4 times in the past year it’s still not considered an ‘accessible’ price
  • Plans were made to build lower cost EV's at around the $25,000 USD mark
  • That idea has disappeared as quickly as choccy eggs after easter x because Elon Musk has reportedly scrapped the idea

👉 Background: Tesla became one of the sexiest companies in the world when it released its first electric vehicle, the Roadster, in 2008,  with a cost of over $100,000 USD.

👉 What happened: More recently, Tesla’s saw its first revenue decline since the pandemic. And just when everyone thought the best solution to increasing revenue was a cheaper EV, Elon Musk announces plans to build a futuristic, self-driving robotaxis.

👉 What else: The robotaxi will effectively be a car without controls for a human to use, and Musky promised an unveiling on August 8th this year.

What's the key learning?

💡Sometimes your greatest strength can also become your biggest vulnerability.

💡Elon Musk is known for constantly chasing risky innovation - but this can be a double-edged sword especially when there is significant competition in the EV space. Chinese EV-maker BYD actually overtook Tesla by selling over 3 million lower-cost EV's last year.

💡While you can’t rule out Elon Musk and his zany ways, this Robotaxi may just be one step too far to fix his revenue decline.

‍

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