"Tesla Abandons Low-Cost Car Amid Chinese EV Competition, Musk Denies Reports"

Tesla has reportedly scrapped plans to build an affordable entry-level car, opting to focus on self-driving robotaxis instead, as it faces fierce competition from Chinese electric vehicle makers flooding the market with low-priced cars. The decision represents a shift from Elon Musk's longstanding goal of producing affordable electric cars for the masses, and comes amid challenges in achieving full self-driving capability and regulatory risks. The cancellation of the Model 2 project has raised questions about Tesla's sales growth ambitions and its ability to compete in the increasingly crowded entry-level EV segment.