Elon Musk, CEO of Tesla, has reiterated plans to launch an affordable electric vehicle priced around $25,000 by mid-2025. This announcement aims to rekindle interest in Tesla amid declining sales.
Initially introduced in 2018, the model has been a long-standing promise from Musk. During the 2024 financial results presentation, he confirmed that production is on track. The vehicle is expected to be manufactured on existing assembly lines and will incorporate design elements from the Cybertruck and Cybercab.
Despite the optimism, details remain unclear, and the projected price has faced skepticism, with some sources suggesting it could rise to $35,000. The competition from Chinese manufacturers like BYD, which already offer more affordable models, adds pressure on Tesla to meet its timeline.