Tesla CEO Elon Musk Squashes Rumors Surrounding Model 3 'Highland': 'It's Not Real'
Portfolio Pulse from Anan Ashraf
Tesla CEO Elon Musk has debunked the rumor about a codename 'Highland' for the revamped Model 3, stating 'It's not real' on X (formerly Twitter). The company refers to the new design of its most affordable electric vehicle as 'upgraded' or 'refreshed'. The upgraded Model 3, which was first released in China in late August, has been unveiled in the U.S. this week with the same pricing as the previous model.
January 12, 2024 | 3:40 am
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NEUTRAL IMPACT
Elon Musk's clarification about the Model 3 'Highland' rumor may reduce speculation and uncertainty around Tesla's product plans, potentially stabilizing the stock in the short term.
The CEO's statement directly addresses and dismisses a specific rumor, which can clarify the company's direction and reduce misinformation. However, since the upgraded Model 3 has already been released and the rumor does not seem to have had a significant impact on the company's strategy or sales, the short-term impact on the stock price is likely to be neutral.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80