While commenting on Tesla’s results announced on Wednesday, Elon Musk admitted that the company he manages is working on a completely new electric car. Shortly earlier, Reuters – citing four informants related to the case – reported unofficially that Tesla was preparing to launch a small crossover under the code name “Redwood”.
Elon Musk about the new Tesla model. “In the second half of 2025”
The company lost approximately 6% in post-trade trading on Wednesday. In response, Elon Musk admitted that the reason for the worse results was, among others, general slowdown in car sales on the market and the dynamic expansion of Chinese car manufacturers. He also threatened that “if no trade barriers are established” (customs duties and additional difficulties), Chinese brands “will destroy most other car companies in the world.” The production of electric cars in China is often subsidized by government funds, which helps lower the final price of the vehicle.
Elon that Tesla intends to start producing a “new generation electric car” in the second half of 2025. – I am often optimistic about time frames. However, our current schedule shows that we will start production at the end of 2025, sometime in the second half, said the billionaire. He also added that production of the car will start at the Gigafactory plant in Texas, and then it will also start in the still unbuilt plant in Mexico and in one of the factories outside North America. Which? A decision is expected to be made later this year. Tesla’s boss also admitted that “we will practically sleep on the production line,” referring to the beginnings of vehicle construction in Texas. However, he did not reveal any details about this model.
Tesla is preparing for a weaker year. Only a new car will bring revival
Unfortunately, the billionaire also noted that the upcoming year will be a period of “significantly lower sales growth” for Tesla. The manufacturer wants to focus on working on a new car and improving the weak margin. Reuters notes that Tesla is caught between two waves of growth today. The first took place in recent years and was driven by sales of the new Model 3 (from 2017) and Y (from 2020). The second will be related to the sale of the announced new generation vehicle.
According to Reuters sources, Tesla intends to fit into current trends by offering customers a small car that will compete primarily on price. Until recently, the billionaire promised to build a car that would cost only PLN 25,000 in the base version. dollars (approx. PLN 100,000 net), but today it seems unrealistic. At the same time, “Redwood” is to be cheaper than Model 3 (in the US its price starts from $39,000). It will be a representative of the recently extremely popular (especially in Europe) segment of compact crossovers, i.e. cars that retain small dimensions, but resemble SUVs in appearance.
Source: Gazeta
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