Tesla’s Strategy Shifts Are Just Following Musk’s Whims

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Three months ago, on Tesla Inc.’s last earnings call, Elon Musk attempted to calm investors who were nervous about the company’s flagging sales growth by talking up its progress on what he described as a “next generation low-cost vehicle.” He suggested it was almost ready to be unveiled. The car, which fans have often described as the Model 2, would fulfill Musk’s original “master plan” to make electric vehicles truly affordable. Musk promised it would be made in a “revolutionary” factory that would take advantage of what he described as Tesla’s “most important competitive characteristic,” which was its “manufacturing technology.”