‘Stay Tuned’ says Tesla Chief Designer on a $25k EV

A $25,000 car would bring a boom in Tesla sales but a report regarding this topic rumored that the company is no longer interested in this low-cost electric vehicle (EV).

The report suggests that the EV company is likely to scrap its plans for a low-cost car. The new course of the company’s strategy may take to the “Robotaxi” industry.

Elon Musk, CEO of Tesla denied this report but didn’t say anything specific about the car. However, he made a new announcement to unveil its first Robotaxi in August. The design and the features of this Robotaxi remain unknown.

Earlier this month, Tesla posted its vehicle production and delivery figures for the first quarter of 2024. The company produced a total of 433,371 vehicles and delivered 386,810 vehicles. This is a slight decline from last year’s 440,808 vehicles production and 422,875 units delivery.

Tesla predicts its sales growth “may be notably lower” in 2024. It is also said to be preparing for the next-generation EV platform for a low-cost EV of around $25,000.

A potential unveiling of this model could happen by the end of 2025 said Musk during a full-year earning call in January this year. Still, there’s no specific schedule announced to reveal the model as the manufacturing process is often more complicated than building a prototype.

Take Cybertruck as an example, the company announced its prototype to the public in 2019. It took about 4 years for Tesla to complete the first batch of deliveries. Still, it has not achieved the full-fledged production rate at the facility.

Tesla’s Chief Designer Franz Von Holzhausen responded to a reporter who asked a clarification on the recent report of canceling the $25,000 car. Franz replied, “I would say just say, Stay Tuned” to the reporter at a media conference.

The reply was concise and it says that we’ll have to wait for more information about the $25,000 or when it will be announced.