Tesla’s Robotaxi event came and went last night, and we finally learned (very few) new details about the much-hyped car that CEO Elon Musk thinks will add $5 trillion to Tesla’s market capitalization.
But the main thing it left me (still) thinking is: why does this car even exist?
Tesla has been talking about robotaxis for a long time, so of course it makes sense that it would unveil a robotaxi… right?
But here’s the rub: when Tesla first started talking about robotaxis, it was in the context of the Model 3 and other vehicles that the company already makes.
As far back as 2016, Tesla was talking about “Tesla Network,” a proposed system that would allow Tesla owners to send out their cars to work as taxis once the company had solved full self-driving.
I mentioned all of this in my Tesla Model 3 review back in 2018, showing some of the details that indicated that Tesla was getting ready for this robotaxi future – such as the use of a phone as a key and an interior camera to keep tabs on occupants.
Musk even went so far as to say that Tesla will stop selling cars once it solves autonomy. The idea is that those cars would be more profitable to keep around as robotaxis, that each would be worth $100k-$200k due to this function and that they should be considered “appreciating assets” as a result. (Though Musk did say last night that Tesla will sell Robotaxis for $30k, which runs counter to this past assertion of his).
So there is a long history of Tesla referring to its vehicles as potential future robotaxis, rather than talking about an individual robotaxi product. And it even said the same last night, as there were 20 Robotaxis and 30 other Tesla vehicles shuttling people around at the event. Musk reiterated last night that all cars Tesla makes would be capable of full autonomy, and even said that existing cars would be driving all by themselves prior to when he said the Robotaxi will hit the road in 2026-2027 (though he stumbled and said “let’s not get nuanced here” when the crowd asked whether this would apply to HW3 cars, which Tesla previously promised full autonomy for).
But hey, maybe it makes sense to release an individual Robotaxi product that would be fully focused on this function and no other, in order to save cost and reduce complexity.
Also, I have to say, it looked great out there. Compared to the previous renderings/models/spy shot we’ve seen, I thought the final product looked fantastic. If it were just a normal EV, with that design, a small sporty low 2-seater for about that price, I’m sold.
A smaller car, without many of the creature comforts that might be desired by a driver, with more simplicity for less maintenance and easier cleaning, can certainly help to get costs down. And that’s great and needed. A $30k vehicle will be available to more people than a $42k Model 3, the next-cheapest car Tesla currently sells.
But…. why not a $25k Model 2 then?
Tesla already had the answer to this question: the cancelled Model 2
So if Tesla wants to have a cheaper, simpler car that is capable of robo-driving tasks, and if it’s still clear that all of its vehicles will gain this capability, why doesn’t it just make the cheaper, simpler car that it’s been talking about for years: the Model 2.
Not much was known about the Model 2, except that it would be a cheaper, smaller EV, starting at $25,000 – long thought to be the appropriate entry-level for consumer vehicles (the cheapest gas cars in America are around $17k – and a $25k EV would cost about the same after the $7,500 federal tax credit).
Instead, Musk directed the company to pivot to Robotaxi, and rhetorically, he has been talking a lot more about robotaxis, artificial general intelligence robots, and various other pie-in-the-sky promises, in keeping with the tech buzzword du jour..
But while there’s a lot of demand in the stock market for CEOs who incessantly talk about AI, there’s also a lot of demand in the car market for a cheap electric vehicle. And Tesla is a car company, after all, not a stock company (isn’t it?).
And what we do know from the event is that Tesla thinks they can make a self-driving electric vehicle for under $30k, and that that vehicle would be “over-specced” for what it is, using a more powerful AI computer than necessary. And they think they can do this within the next 2 years or so.
If these two things are possible, I believe that those efforts would be better channeled towards the Model 2, rather than the Robotaxi.
While Musk stated in the event that existing vehicles would be capable of full autonomy before the Robotaxi starts shipping, I don’t think anyone believes this. After a decade of FSD coming “at the end of next year,” the boy has thoroughly cried wolf and this timeline does not seem realistic.
Further, Musk said that it would come to California and Texas first, pending regulatory approval. Even if Tesla does swiftly get regulatory approval in those states, that still limits the addressable market while it works to scale up and get approved in other regions. The process of homologating a Model 2 would go much more smoothly than that, and could be sold globally much faster.
And while Tesla’s car timelines also tend to slip by several years, with how long we’ve been talking about a “cheaper Tesla car” and its relative similarity to existing vehicles (as opposed to the vast differences involved in making a Cybertruck or Roadster), I also think the Model 2 could have been manufactured before Robotaxi could (especially when taking into account regulatory timelines).
If that’s the case, then wouldn’t it be better for Tesla to make this car that I believe would be ready before Robotaxi will, that will fulfill a need for a lot of buyers right now (especially in a circumstance where affordable Chinese EVs are popular enough to force protectionist trade measures), that would have global appeal, and that will have all the capabilities of a Robotaxi once (or if) FSD finally ever gets solved?
Maybe it’s about cost-cutting… or maybe it’s about the stock
Now, perhaps part of the reason for Model 2’s cancellation is because Tesla did not see enough cost-cutting possible to build an EV for $25k, or thought the level of cutting would be too severe to sell desirable consumer vehicles at that price. With a Robotaxi, perhaps customers would accept a more bare bones experience than in a Model 2 that they own as a personal vehicle, and maybe that’s the only way that Tesla can get the price down.
And there’s something to be said for a vehicle that’s fully autonomous-focused, with things like inductive charging and being designed for robo-vacuums to clean the car without human intervention (both were briefly glossed over in last night’s presentation).
But there’s definitely demand for a cheaper, human-driven EV, and I think Tesla got the order wrong on this one – it would be better to sell a bunch of Model 2s earlier than a bunch of Robotaxis later, since I don’t think full level 5 FSD, along with regulatory approval, is coming within the next year or two. And if you have to choose whether to have hardware or software ready first, you definitely want to choose software – because hardware costs a heck of a lot to build.
Or… maybe all this AI talk is more about the stockthan it is about actual products, as alluded to above. This has been a common theory among Tesla haters for some time, but was never all that realistic because Tesla did and does sell a lot of cars, and a whole ecosystem around them of energy products like Powerwall and Superchargers, which work well and make a lot of revenue, with pretty good margins.
But if it is about that, it seems that Elon has run out of rope. The market, this time, doesn’t seem too convinced. Maybe instead of sky-high promises that nobody thinks will be met, and that you are burning public trust with each time you make them (or uh, maybe that’s happening for another reason)… people really do just want a cheaper car that everyone can buy.
Make it.
Charge your electric vehicle at home using rooftop solar panels. Find a reliable and competitively priced solar installer near you on EnergySage, for free. They have pre-vetted installers competing for your business, ensuring high-quality solutions and 20-30% savings. It’s free, with no sales calls until you choose an installer. Compare personalized solar quotes online and receive guidance from unbiased Energy Advisers. Get started here. – ad*
FTC: We use income earning auto affiliate links.More.
Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks.
Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower.
The reversal came after a Bloomberg report that JPMorgan plans to start charging fintechs for access to customer bank data, a move that could raise costs across the industry.
For fintech firms that rely on thin margins to offer free or low-cost services to customers, even slight disruptions to their cost structure can have major ripple effects. PayPal and Affirm both ended the day nearly 6% lower following the report.
Despite its stellar year, the online broker is facing several headwinds, with a regulatory probe in Florida, pushback over new staking fees and growing friction with one of the world’s most high-profile artificial intelligence companies.
Florida Attorney General James Uthmeier opened a formal investigation into Robinhood Crypto on Thursday, alleging the platform misled users by claiming to offer the lowest-cost crypto trading.
“Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive,” Uthmeier said in a statement.
The probe centers on Robinhood’s use of payment for order flow — a common practice where market makers pay to execute trades — which the AG said can result in worse pricing for customers.
Robinhood Crypto General Counsel Lucas Moskowitz told CNBC its disclosures are “best-in-class” and that it delivers the lowest average cost.
“We disclose pricing information to customers during the lifecycle of a trade that clearly outlines the spread or the fees associated with the transaction, and the revenue Robinhood receives,” added Moskowitz.
Robinhood is also facing opposition to a new 25% cut of staking rewards for U.S. users, set to begin October 1. In Europe, the platform will take a smaller 15% cut.
Staking allows crypto holders to earn yield by locking up their tokens to help secure blockchain networks like ethereum, but platforms often take a percentage of those rewards as commission.
Robinhood’s 25% cut puts it in line with Coinbase, which charges between 25.25% and 35% depending on the token. The cut is notably higher than Gemini’s flat 15% fee.
It marks a shift for the company, which had previously steered clear of staking amid regulatory uncertainty.
Under President Joe Biden‘s administration, the Securities and Exchange Commission cracked down on U.S. platforms offering staking services, arguing they constituted unregistered securities.
With President Donald Trump in the White House, the agency has reversed course on several crypto enforcement actions, dropping cases against major players like Coinbase and Binance and signaling a more permissive stance.
Even as enforcement actions ease, Robinhood is under fresh scrutiny for its tokenized stock push, which is a growing part of its international strategy.
The company now offers blockchain-based assets in Europe that give users synthetic exposure to private firms like OpenAI and SpaceX through special purpose vehicles, or SPVs.
An SPV is a separate entity that acquires shares in a company. Users then buy tokens of the SPV and don’t have shareholder privileges or voting rights directly in the company.
OpenAI has publicly objected, warning the tokens do not represent real equity and were issued without its approval. In an interview with CNBC International, CEO Vlad Tenev acknowledged the tokens aren’t technically equity shares, but said that misses the broader point.
“What’s important is that retail customers have an opportunity to get exposure to this asset,” he said, pointing to the disruptive nature of AI and the historically limited access to pre-IPO companies.
“It is true that these are not technically equity,” Tenev added, noting that institutional investors often gain similar exposure through structured financial instruments.
The Bank of Lithuania — Robinhood’s lead regulator in the EU — told CNBC on Monday that it is “awaiting clarifications” following OpenAI’s statement.
“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” a spokesperson said, adding that information for investors must be “clear, fair, and non-misleading.”
Tenev responded that Robinhood is “happy to continue to answer questions from our regulators,” and said the company built its tokenized stock program to withstand scrutiny.
“Since this is a new thing, regulators are going to want to look at it,” he said. “And we expect to be scrutinized as a large, innovative player in this space.”
SEC Chair Paul Atkins recently called the model “an innovation” on CNBC’s Squawk Box, offering some validation as Robinhood leans further into its synthetic equity strategy — even as legal clarity remains in flux across jurisdictions.
Despite the regulatory noise, many investors remain focused on Robinhood’s upside, and particularly the political tailwinds.
The company is positioning itself as a key beneficiary of Trump’s newly signed megabill, which includes $1,000 government-seeded investment accounts for newborns. Robinhood said it’s already prototyping an app for the ‘Trump Accounts‘ initiative.
Korean auto giants Hyundai and Kia think lower-priced EVs will help minimize the blow from the new US auto tariffs. Hyundai is set to unveil a new entry-level electric car soon, which will be sold alongside the Kia EV2. Will it be the IONIQ 2?
Hyundai and Kia shift to lower-priced EVs
Hyundai and Kia already offer some of the most affordable and efficient electric vehicles on the market, with models like the IONIQ 5 and EV6.
In Europe, Korea, Japan, and other overseas markets, Hyundai sells the Inster EV (sold as the Casper Electric in Korea), an electric city car. The Inster EV starts at about $27,000 (€23,900), but Hyundai will soon offer another lower-priced EV, similar to the upcoming Kia EV2.
The Inster EV is seeing strong initial demand in Europe and Japan. According to a local report (via Newsis), demand for the Casper Electric is so high that buyers are waiting over a year for delivery.
Advertisement – scroll for more content
Hyundai is doubling down with plans to introduce an even more affordable EV, rumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, said during a recent interview that “The new electric vehicle will be unveiled in the next few months.”
Hyundai Casper Electric/ Inster EV models (Source: Hyundai)
The new EV is expected to be a compact SUV, which will likely resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and other global regions in 2026.
Hyundai is keeping most details under wraps, but the expected IONIQ 2 is likely to sit below the Kona Electric as a smaller city EV.
Kia Concept EV2 (Source: Kia)
More affordable electric cars are on the way
Although nothing is confirmed, it’s expected to be priced at around €30,000 ($35,000), or slightly less than the Kia EV3.
The Kia EV3 starts at €35,990 in Europe and £33,005 in the UK, or about $42,000. Through the first half of the year, Kia’s compact electric SUV is the UK’s most popular EV.
Kia EV3 (Source: Kia)
Like the Hyundai IONIQ models and Kia’s other electric vehicles, the EV3 is based on the E-GMP platform. It’s available with two battery packs: 58.3 kWh or 81.48 kWh, providing a WLTP range of up to 430 km (270 miles) and 599 km (375 miles), respectively.
Hyundai is expected to reveal the new EV at the IAA Mobility show in Munich in September. Meanwhile, Kia is working on a smaller electric car to sit below the EV2 that could start at under €25,000 ($30,000).
Kia unveils EV4 sedan and hatchback, PV5 electric van, and EV2 Concept at 2025 Kia EV Day (Source: Kia)
According to the report, Hyundai and Kia are doubling down on lower-priced EVs to balance potential losses from the new US auto tariffs.
Despite opening its new EV manufacturing plant in Georgia to boost local production, Hyundai is still expected to expand sales in other regions. An industry insider explained, “Considering the risk of US tariffs, Hyundai’s move to target the European market with small electric vehicles is a natural strategy.”
2025 Hyundai IONIQ 5 (Source: Hyundai)
Although Hyundai is expanding in other markets, it remains a leading EV brand in the US. The IONIQ 5 remains a top-selling EV with over 19,000 units sold through June.
After delivering the first IONIQ 9 models in May, Hyundai reported that over 1,000 models had been sold through the end of June, its three-row electric SUV.
While the $7,500 EV tax credit is still here, Hyundai is offering generous savings with leases for the 2025 IONIQ 5 starting as low as $179 per month. The three-row IONIQ 9 starts at just $419 per month. And Hyundai is even throwing in a free ChargePoint Home Flex Level 2 charger if you buy or lease either model.
Unfortunately, we likely won’t see the entry-level EV2 or IONIQ 2 in the US. However, Kia is set to launch its first electric sedan, the EV4, in early 2026.
Ready to take advantage of the savings while they are still here? You can use our links below to find deals on Hyundai and Kia EV models in your area.
FTC: We use income earning auto affiliate links.More.
As EVBox shuts down its Everon business across Europe and North America, EV charging provider Blink Charging is stepping up to offer support to customers caught in the transition.
EVBox’s software arm Everon recently announced it’s winding down operations alongside EVBox’s AC charger business. That’s left a lot of charging station hosts and drivers wondering what comes next. Now, EVBox Everon is pointing its customers toward Blink as a recommended alternative.
Blink says it’s ready to help, whether that means keeping existing chargers up and running or replacing aging gear with new Blink chargers.
“EVBox has played a significant role in the growth of EV charging infrastructure across the UK and Mainland Europe, and we recognize the trust hosts have placed in its solutions,” said Alex Calnan, Blink Charging’s managing director of Europe. “With the recent announcement of Everon’s withdrawal from the EV charging market, it’s natural to have questions about what this means for operations. At Blink, we want to assure Everon customers that we are here to help them navigate this transition.”
Advertisement – scroll for more content
Blink says it’s able to offer advice, replacements, and ongoing network management to make the changeover as smooth as possible.
Everon users who switch to Blink will get access to the Blink Network portal via the Blink Charging app. That opens up real-time insight into charger usage and lets hosts set pricing, manage users, and download performance reports.
“At Blink, our charging technology is future-ready,” added Calnan. “With advancements like vehicle-to-grid technology on the horizon, our chargers are built to support the future of electric vehicles and charging habits.”
The company says its chargers are in stock and ready to ship now for any Everon customers looking to make the jump.
In October 2024, France’s Engie announced it would liquidate the entire EVBox group, which it said posted total losses of €800 million since Engie took over in 2017. EVBox is closing its operations in the Netherlands, Germany, and the US.
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.