Tesla confirmed today that it is still set to launch new vehicles, including affordable models, in 2025.
This confirmation is big news for the EV space, as the leader of the industry is ready to offer a competitive, sub-$30,000 option, and potentially even more vehicles that have been talked about in the past.
Tesla said earlier this year that it would have a “notably lower growth rate” in 2024 due to its focus on the next-generation platform, including Robotaxi.
This meant that Tesla would likely not be able to fulfill a substantial growth in the number of cars it delivers compared to 2023. It maintained that new vehicles and a new platform would be the path to continuing its growth rate, and confirmed that in the Q2 Shareholder Deck released ahead of its Q2 Earnings Call:
“Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025. These vehicles will utilize aspects of the next generation platform as well as aspects of our current platforms and will be able to be produced on the same manufacturing lines as our current vehicle line-up.”
The push for more vehicles will help scale the automotive business further, but will lead to more growth from an investor standpoint as well.
Tesla has hinted that it would build an affordable EV for some time now, but the price point has always been unknown. $25,000 has been highly speculated in the Tesla community, undercutting names like the Chevrolet Bolt EV and EUV, which have been the most affordable EVs in the U.S. market for some time.
Tesla will build several new vehicles on this next-generation platform, but the company has also said there is the potential for other “necessary” vehicle types. A van has been discussed in the past:
Tesla Van camper concept gets positive reception from EV fans
New vehicles will refresh the entire Tesla lineup. As the Model S and Model X continue to lack the spice they once had, this truly gives only two true options for consumers: the Model Y and Model 3. While the Cybertruck is available, the $100,000 price tag may not appeal to the simple commuter.
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