Former Tesla CEO Eberhard says ‘shame’ company is cancelling low-cost car plans

By Thomson Reuters Apr 9, 2024 | 1:36 AM

HONG KONG (Reuters) – A Tesla Inc founder and former chief executive, Martin Eberhard, said on Tuesday it was a “shame” to hear that the company was scrapping its low-cost car plans amid fierce competition in China.

Eberhard was speaking at the HSBC Global Investment Summit in Hong Kong. Reuters reported on Friday that Tesla was cancelling its long-promised inexpensive car that investors had been counting on to drive its growth.

(Reporting By Josh Ye; Writing by Anne Marie Roantree; Editing by Tom Hogue)