Affordable Tesla model on the way to the first half of 2025

Electric vehicle (EV) maker Tesla said its affordable models are on the way to customers in the first half of 2025. These new cars will be price-focused and bring essential features similar to the existing models.

With slowing demands, EV companies are choosing new ways to ramp up sales including price-efficient options. These low-cost cars will continue to appear in the market starting next year.

Initially, Tesla projected a low-cost vehicle development, which was expected to launch at $25,000. However, the company is no longer talking about this price point. Instead, it’s now chasing affordability.

At the Q1 2024 earning call, Tesla updated its plans around the future vehicle lineup. These new vehicles will be launched as affordable models but the price range is currently unknown.

Tesla Model 3 Quicksilver (image – Tesla)

Moreover, these vehicles will be built using next-gen and existing platforms and produced in the same manufacturing line as the current models.

As previously, Tesla decided to set up a brand new production line for the chap model, which would require a large investment. Some retooling will save that fund for research and development of new products.

During the 2024 Annual Stockholders meeting, the EV maker shared a slide suggesting three new models under development. These are expected to include two affordable cars but no revelation was made specific to their name or design.