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Former Tesla CEO Eberhard says 'shame' company is cancelling low-cost car plansReuters reported on Friday that Tesla was cancelling its long-promised inexpensive car that investors had been counting on to drive its growth.
Reuters
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Tesla logo.

Credit: Reuters Photo

Hong Kong: A Tesla Inc founder and former chief executive, Martin Eberhard, said on Tuesday it was a "shame" to hear that the company was scrapping its low-cost car plans amid fierce competition in China.

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Eberhard was speaking at the HSBC Global Investment Summit in Hong Kong. Reuters reported on Friday that Tesla was cancelling its long-promised inexpensive car that investors had been counting on to drive its growth.

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(Published 09 April 2024, 12:49 IST)