Ebrahim Noroozi/AP
- Elon Musk denied a Reuters report that Tesla was scrapping plans for a $25,000 car.
- The inexpensive model has been an important part of Tesla's plans for several years.
- Tesla shares were down by about 3% on Friday.
Tesla CEO Elon Musk denied a report that the electric-vehicle company was scrapping plans for a long-awaited $25,000 model.