Hyperdrive

Tesla Co-Founder Says It Would Be a Shame If Cheaper Car Were Canceled

Eberhard co-founded Tesla, served as first CEO until late 2007
Low-cost EVs seem ‘better market than that gigantic truck’

WATCH: Tesla Inc.’s former CEO Martin Eberhard said the automotive company should rethink its plans to scrap the low-cost electric car since bringing down prices is key for wider adoption. “It seems like a better market than that gigantic truck they make,” he told Bloomberg Television.Source: Bloomberg

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By Linda Lew and Haslinda Amin

April 9, 2024 at 7:09 AM UTC

Updated on

April 9, 2024 at 7:48 AM UTC

This article is for subscribers only.

Tesla Inc.’s former Chief Executive Officer Martin Eberhard said it’s a shame the automaker may have scrapped its cheap car, since bringing down the price of electric vehicles is key to their uptake.

Eberhard co-founded Tesla, then known as Tesla Motors, with Marc Tarpenning in 2003 and served as the company’s first CEO until late 2007. He was in Hong Kong speaking at the inaugural HSBC Global Investment Summit on Tuesday.