PODCAST: HOW ELON MUSK KILLED TESLA MODEL 2, GLOBAL EV SALES SURGE, AND CHINESE EVS KEEP KILLING IT

EV Channels Review

This podcast episode delves into significant shifts and challenges within the EV market, particularly focusing on Tesla. A major point of discussion is Elon Musk's decision to reportedly kill the $25,000 'Model 2' (NV91/NV92) in favor of prioritizing the Robotaxi, a move that has led to the departure of key executives. The review highlights the internal debate, with some executives presenting data suggesting the Robotaxi program might be financially risky and cannibalize existing sales, while Musk remained resolute. The episode also addresses Tesla's declining used car values, which are underperforming the broader market, attributed to brand degradation and high inventory. The Cybertruck is described as a "flop," with significant discounts and production cuts due to drastically lower-than-projected demand. On a positive note, global EV sales are surging, up 29% in Q1 2024, driven heavily by China, which continues to dominate with impressive offerings like the ZEEKR 007 GT, praised for its range, features, and aggressive pricing. Other segments covered include a new US facility for British EV retrofitter RBW EV Cars and Archer's eVTOL air taxi network expansion in NYC.