Tesla Shares Drop On $25K Car Delays, Recover After Musk Denies Cancelation

Tesla shares dropped 6.2% on report it canceled $25K car project, then pared losses after Musk denied report
Musk said in 2020 Tesla could make $25K EV in 3 years, but has repeatedly delayed/vetoed the project to focus on robotaxis
Tesla reported first drop in quarterly deliveries in 4 years, losing ground in China to cheaper EVs
Musk now says Tesla is "very far along" on $25K car, expects to start production end of 2025
Tesla is working on "far more advanced" manufacturing to reduce costs for cheaper EVs