Musk calls $25,000 Tesla "pointless"

Xiaomi's highly anticipated SU7 Ultra is now available for preorder in China, starting at around $112,500, with an official launch on October 29 alongside the 15 series smartphones. Designed for high performance, the SU7 Ultra boasts 1,548 horsepower, a top speed of 217.48 mph, and can accelerate from 0 to 60 mph in just 1.9 seconds. Equipped with CATL’s Qilin battery, it features fast charging capabilities, reaching a full charge in under 12 minutes.

Jim Farley, Ford's CEO, has been driving the Xiaomi Speed Ultra 7, a Chinese EV, for six months to gain insights into the competitive landscape. On the “Fully Charged Podcast,” he praised the vehicle, which he received from Shanghai, noting its impressive range of over 500 miles and competitive price of around $30,000. Farley highlighted Xiaomi's strong sales performance, with vehicles selling out for six months.

Hyundai Glovis has introduced the EV Drill Lance to enhance fire safety on car-carrier ships. This innovative tool drills into the underside of EVs, allowing crews to access and extinguish battery fires with water from the ship’s hydrants. Initially deployed on 32 car carriers, the device aims to improve safety as electric vehicle adoption rises, minimizing fire risks during transport.

Chinese EV makers like BYD keep prices low through in-house production, eliminating outsourcing costs. Their innovative "E-Axle" reduces complexity by integrating eight essential components. Mass production enables models like the Atto 3 to be priced under $20,000, appealing to budget-conscious consumers. Government support through tax incentives and subsidies further lowers development costs, solidifying China's position as a leader in affordable electric vehicle production globally.

Elon Musk has shifted Tesla's focus away from the long-promised $25,000 model, labeling it “pointless” during the Q3 earnings call. Instead, he is betting on a fully autonomous future with the introduction of the Cybercab, a two-seater robotaxi set to debut before 2027 for under $30,000.