Tesla has reiterated its intention to launch more affordable electric car models as early as 2025. In its fourth-quarter 2024 earnings report, key people at the company confirmed that work on such models is in full swing.
“Plans for new vehicles, including more affordable models, remain in place and are scheduled to enter production in the first half of 2025“, Tesla said in a statement.
The new models will use elements of the next-generation platform, as well as components from current platforms, and will be produced on the same lines as existing Tesla models.
The statement reiterates a promise made by the company in its second-quarter 2024 report. However, Tesla has not provided any specific information about the upcoming models, their specifications or price.
It is assumed that the new models may receive some technologies from the Cybertruck, such as electronic control, 800 V architecture, rear-wheel steering and gigacasting.
Most likely, however, not all of the Cybertruck innovations will be used in the budget models. Tesla expects that the release of more affordable models will allow the company to increase sales by 60%.
Despite the presentation and Q&A session with investors, Tesla representatives did not answer questions about future low-cost models. It remains unclear which models Tesla plans to release in 2025 and what technologies they will use.
However, the very fact of confirming plans to release low-cost electric vehicles shows that the company is serious about expanding its model range and attracting new customers.