"Tesla's Decision to Scrap Affordable EV Plans Amidst Stock Fall and Musk's Comments"

Tesla's stock fell 6% after a report claimed the company was abandoning plans for a $25,000 electric vehicle, opting to focus on robotaxis instead. Elon Musk refuted the report, but the stock was still down 3.5%. This news follows Tesla's first year-over-year decrease in vehicle deliveries and concerns about its competitiveness against Chinese EV companies. The market for electric vehicles is also showing slower growth, with analysts suggesting that EV makers need to convince gas-powered car owners to switch. With the future of the affordable EV uncertain, questions remain about Tesla's sales and competitiveness.