Tesla, Inc. TSLA has not committed to a timeline for the launch of the rumored sub-$30,000 electric vehicle yet, but CEO Elon Musk on Monday commented on a post about the budget EV.
What Happened: A Tesla influencer going by the handle Teslaconomics posted on X a picture of the car, which had an appearance similar to a flying car. ”A $25,000 Tesla compact vehicle will put the nail in the coffin of legacy automakers,” he said captioning the picture.
The post drew the attention of none other than the man himself. ”Good design,” he said in a terse reply.
See Also: Everything You Need To Know About Tesla Stock
Why It’s Important: The Tesla stock is stuck in limbo and has not made much headway since the stellar gain it notched up in the first half of the year. The Cybertruck launch, which many touted as a catalyst that can drive the stock higher, is in the rearview now.
Most expect a sub-$30,000 EV to be the next potential catalyst that can work wonders for the car.
If Tesla does take a leaf out of its Chinese rivals which are killing it in the domestic market with cheaper models, the EV giant could reinvigorate stagnant volume.
Tesla ended Friday’s session down 0.77% at $252.54, according to Benzinga Pro data.
Photo: Courtesy of Wikimedia.
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