"Tesla Abandons Low-Cost Car Plans Amid Chinese EV Competition"

Tesla has scrapped plans for a low-cost car, pivoting instead to focus on developing self-driving robotaxis on the same small-vehicle platform, amid fierce competition from Chinese electric-vehicle makers flooding the market with affordable cars priced as low as $10,000. The decision represents an abandonment of a longstanding goal for affordable electric cars for the masses, and comes as Tesla faces challenges in delivering on Elon Musk's ambitious sales growth targets and dealing with competition in the EV market.