Here is your Forbes Daily Briefing for Friday, October 25th.

Today on Forbes, Elon Musk confirms there's no $25,000 Tesla EV on the way.

Tesla CEO Elon Musk has confirmed that the electric vehicle maker is not planning to release

a $25,000 model, appearing to reverse comments he made six months ago when he denied a news report saying

exactly that.

The billionaire entrepreneur and top donor to Donald Trump's presidential campaign

commented on the status of the so-called Model 2 EV

on Wednesday after the Austin-based company

reported a stronger than expected third quarter profit.

He was asked specifically about the status of the low-cost non-roboo taxi car

while taking questions from Tesla retail investors during an earnings call. He said, quote,

we're not making a non-Robo taxi model. I think we've made very clear that the

future is autonomous. Earlier this month, Musk unveiled his vision for Tesla's future with its cyber cab robot

taxi model at a show for fans of the brand at Warner Brothers Studios in Burbank,

California.

Musk claimed the two-seat autonomous electric vehicle would sell for about $30,000 when it goes into production in 2026.

Whether such a product will actually arrive on time and at the promised price remains to be seen.

Overall, the company's goal is to lower the price of all its products and Musk set it on track to sell vehicles that cost less than $30,000 once government subsidies are factored in.

In April, Reuters reported that Tesla had cancelled the Model 2 program,

a vehicle that might have been produced in a new plant the company was hoping to build in Mexico.

At the time, Musk denied the Reuters report, writing on X, the social media platform he owns, that the news agency was, quote,

lying. Nevertheless, over the past six months, he offered no details on whether such a vehicle was in the

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