Tesla CEO Elon Musk speaks at a town hall with Republican candidate for U.S. Senate Dave McCormick on Oct. 20, 2024 in Pittsburgh.

Tesla CEO Elon Musk confirmed that the electric vehicle maker is not planning to release a $25,000 model, appearing to reverse comments he made six months ago when he denied a news report saying exactly that.

The billionaire entrepreneur and top donor to Donald Trump’s presidential campaign commented on the status of the so-called Model 2 EV on Wednesday after the Austin-based company reported a stronger-than-expected third-quarter profit. He was asked specifically about the status of the low-cost, non-robotaxi car while taking........

© Forbes