Tesla gave up on developing new vehicles and is instead diversifying its current model with new trims. The Model Y Standard was touted as an entry-level Tesla designed to compensate for the loss of the EV tax credit. However, the carmaker removed too many features for the price, and other competitors are already undercutting it in price.
Tesla confirmed during the third-quarter earnings call that vehicle manufacturing is no longer its priority. The company refused to discuss future vehicle plans, with the notable exception of the Cybercab, which is not even a car. Although investors prepared questions about a compact EV sharing the platform with the Cybercab, Tesla executives declined to even read them, saying that they don't discuss future products.
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