Former Tesla CEO Eberhard says 'shame' company is cancelling low-cost car plansReuters reported on Friday that Tesla was cancelling its long-promised inexpensive car that investors had been counting on to drive its growth. 
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Hong Kong: A Tesla Inc founder and former chief executive, Martin Eberhard, said on Tuesday it was a "shame" to hear that the company was scrapping its low-cost car plans amid fierce competition in China.
Eberhard was speaking at the HSBC Global Investment Summit in Hong Kong. Reuters reported on Friday that Tesla was cancelling its long-promised inexpensive car that investors had been counting on to drive its growth.