Tesla reshapes future: Shifting focus from mass EVs to robotics

Grand announcements are Elon Musk's specialty; however, implementation is another matter. The famous visionary has promised too much regarding plans to produce 20 million electric vehicles annually.

In 2020, Elon Musk stated that by the end of the decade at the latest, Tesla would be selling 20 million vehicles annually, doubling Toyota's output, the world's largest car manufacturer.

Although the plan seemed unrealistic, it periodically appeared in Tesla's official reports for 2021 and 2022. However, it was absent from the recently published 2023 report. Everything indicates that Tesla has abandoned this goal.

The decision might be related to recent announcements regarding the abandonment of the low-cost electric car project that was supposed to cost around $25,000 CAD. Market analyst Sandeep Rao from "Leverage Shares," quoted by "Reuters," states that "A significant part of Tesla's goal for 2030 was the company's long-term promise to introduce affordable cars at $25,000 CAD."

If such vehicles do not hit the market, achieving the ambitious plan seems impossible. At the same time, there has been increased focus on autonomous driving technology and public transport vehicles.

Musk said on Thursday at 10:00 AM Eastern Time via video link that Robotaxi and the humanoid robot Optimus will be "extremely important" for Tesla at the annual "Viva Technology" conference in Paris.

This statement may imply that Tesla's passenger cars will take a back seat while other technologies will become a priority in the future.