In a potential game-changer move in the electric vehicle (EV) market, Tesla Inc. has promised to unveil its cheaper models by mid-2025, capitalizing on existing manufacturing infrastructure and technological advancements. The announcement was made during the company’s fourth-quarter 2024 earnings call, when it said it would broaden its product line, reversing the slide in EV sales.
What Tesla’s new models would bring to the table?
Unlike the highly anticipated Cybercab, which is scheduled for volume production in 2026, these new models will feature elements of Tesla’s current and next-generation platforms. The firm emphasized that vehicles will be produced on the same manufacturing lines as its established offerings, optimizing production capacity and potentially boosting output by 60%.
While Tesla has not announced any information on the new models, the latest investor report indicates a combination of features from the Cybertruck, such as steer-by-wire, 800V architecture, rear-wheel steering, and giga-casting. Industry insiders, however, believe that some of the premium features, such as air suspension, will not be part of these budget-friendly models.
Tesla earlier announced cheaper EV models, but the promise is yet to be fulfilled
Not the first time it has promised affordable EVs. Similar language has been used during the company’s second-quarter 2024 earnings call, which leaves many wondering whether this is when promises will finally be delivered.
By focusing on affordability in a manner not otherwise interpreted as sacrificing technological edge, Tesla sets itself up to penetrate further into the global market segment it has targeted, perhaps speeding up the transition to sustainable transportation globally.
Also, see: Elon Musk reveals first look of Tesla’s new self-driving robotaxi