The latest earnings report from Tesla has revealed that it is planning to deliver "more affordable" electric vehicles in the future, particularly for its offers coming next year which will usher in a new era for the company. Tesla promised that these affordable electric vehicles would be new models, but the company has yet to unveil what these planned cars would be.
It is known that earlier this year, Tesla's initial promise of affordable EVs to the market was canceled by the company as it faced massive challenges, as well as its renowned focus towards autonomous robotaxi developments.
Tesla is Bringing More Affordable EVs Coming Next Year
Tesla revealed in its latest Investor Relations report that it is now starting its preparations for an upcoming development of its "more affordable" electric vehicles coming in the future, with the company going back on this previous plan. The company revealed that its plans for these new models "remain on track" and it will focus on a "next-generation platform" that will be combined with its present platform.
According to Tesla, the production of these new models will start during the first half of 2025, and the company also promised that it will be during this time when it would "begin launching" the cheaper EVs.
Moreover, Tesla revealed that while it will debut a next-gen platform for its new and more affordable EVs, they will be produced on the "same manufacturing lines" as its current lineup which will help in its developments.
Production Starts in 2025 for New, Cheaper Tesla EVs
Tesla is already gearing up for a busy first half of 2025 with its next-gen platform that will debut their cheaper EVs, with production set to begin in its unspecified Gigafactories but according to Engadget, there is no guarantee for a same-year release.
That being said, things are going back to regular programming for Tesla as its third-quarter report shared that its net income improved by eight percent with $2.51 billion, and sales also saw improvements by 2 percent year-over-year.
Tesla Wants to Bring Cheaper Electric Cars
There have been massive rumors about Tesla's plans to bring more affordable electric vehicles to the market, and these claims go as far back as a year ago, promising the cheapest-priced EV from the company. The initial reports claimed that the cheapest EV from Tesla would be as low as $25,000, and Tesla's CEO, Elon Musk, has teased this before and openly talked about it.
However, things did not go exactly as planned over at Tesla throughout this year as the company saw significant challenges which led to massive changes in its developments, prioritizing more of other products to explore. Earlier this year, it was revealed that Tesla made a 'strategic shift' from developing this $25,000 budget electric vehicle to the robotaxi which is now known as the Cybercab.
The further woes over at Tesla also saw the company removing the cheapest electric vehicle in its current Model 3 lineup with the departure of the Standard Range, making the Long Range version its most affordable one. However, the latest earnings report from the company is promising new beginnings starting next year, and this move will make its electric vehicles more affordable to the public, starting with a new, unnamed car.
