Elon Musk says Tesla is not currently working on a $25,000 car

Elon Musk doesn’t appear on every Tesla (TSLA) earnings call like he used to, but the CEO did make an appearance during the Q4 2021 call to discuss the business of the electric vehicle company. It was during the Q&A portion that he was asked about the possibility of Tesla working on a $25,000 car. Elon Musk confirmed that Tesla is not currently working on a $25,000 vehicle.

The Q4 2021 Tesla (TSLA) earnings call took place on January 26, where Elon Musk appeared to talk about the company and answer questions from investors. One investor asked Musk directly if he had any update on the $25,000 compact car. “We’re not currently working on the $25,000 car,” Musk replied. Musk announced in the past the company’s intentions to release a $25,000 car that was fully autonomous, but it appears that that project is not currently in active development.

Musk went on to explain that the team at Tesla currently has “too much on our plate” and that they’ll get around to it at some point in the future. He also said that the $25,000 car will likely come after Tesla has fully realized its self-driving software. Tesla has made great strides in its self-driving software, but it’s not in a place where the company is ready to release a vehicle that’s fully autonomous.

The $25,000 Tesla will likely be a big deal when it releases. Tesla vehicles have a high barrier of entry, and a car at this cost would put it in the price range of a lot more potential buyers. Either way, it looks like we shouldn’t expect to see it hit the road any time soon. For more on the business ventures of Tesla, Shacknews has you covered.