Elon Musk confirms a new low-cost Tesla model is coming in 2025

There is Elon Musk confirmed A “next-generation low-cost” Tesla EV is in the works, he said, and is “optimistic” that it will arrive in the second half of 2025. earnings call yesterday. It also promised a “revolutionary production system” for the car, which is “by a significant margin” more advanced than any other car in the world.

An article from yesterday Reuters reported that the new car will be a small crossover codenamed “Redwood”. Tesla is said to have sent price offers to suppliers predicting a weekly production volume of 10,000 cars. Musk previously said the automaker is working on two new EV models that could together sell up to 5 million a year.

“Our current schedule shows that we will start production towards the end of 2025, sometime in the second half,” he said. The car will be built at Tesla’s Gigafactory in Austin, Texas, and later in other locations around the world. Musk hinted that there would be a strong push to speed up assembly: “We’re practically going to sleep on the line,” he said.

We achieved a record production and delivery of over 1.8 million vehicles as per our official guidelines. And in the fourth quarter, we are producing vehicles at an annual rate of almost 2 million vehicles per year. And people are often surprised that the highest productivity… auto plant in North America is located in the San Francisco Bay Area.

Musk said the company’s new manufacturing technique would be “very difficult to copy” because “you have to copy the machine…the machine that started the production.” As before, the new line could start slowly before ramping up production significantly, he added.

It warned shareholders of “significantly subdued” sales growth for 2024, however, as the wave of Model 3 and Model Y sales subsides. The company predicted a second wave of sales starting in 2025 with next-generation cars.

Musk also touched on Tesla’s FSD (full self-driving) progress, noting that other “car companies should be asking for FSD licenses,” adding that the reasons “will probably become clear this year.” Musk has previously issued similarly rosy predictions for FSD, which remains at Level 2 capability. Meanwhile, rival Mercedes-Benz recently won Level 3 approval in the United States.

As Musk himself admits, the production forecast “should be taken with a grain of salt, as I am often optimistic about timing.” He was accurate when he said the Model 3 would arrive in 2017, but he was very wrong about the $35,000 price tag (it debuted under $50,000, and only Tesla). for sale in short order $35,000 model). If there is such a date, the next-generation model may arrive in time, but it may take some time for the price to drop.

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